Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 26, 2014 | Jun. 28, 2013 |
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'EURONET WORLDWIDE INC | ' | ' |
Entity Central Index Key | '0001029199 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $1,500 |
Entity Common Stock, Shares Outstanding | ' | 50,697,277 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $209,826 | $201,435 |
Restricted cash | 77,987 | 71,608 |
Inventory - PINs and other | 92,757 | 101,168 |
Trade accounts receivable, net of allowances for doubtful accounts of $22,079 at December 31, 2013 and $21,512 at December 31, 2012 | 390,563 | 370,836 |
Prepaid expenses and other current assets | 69,242 | 68,132 |
Total current assets | 840,375 | 813,179 |
Property and equipment, net of accumulated depreciation of $231,327 at December 31, 2013 and $207,282 at December 31, 2012 | 116,230 | 115,475 |
Goodwill | 498,435 | 481,760 |
Acquired intangible assets, net of accumulated amortization of $132,927 at December 31, 2013 and $140,829 at December 31, 2012 | 93,026 | 83,389 |
Other assets, net of accumulated amortization of $25,363 at December 31, 2013 and $24,247 at December 31, 2012 | 50,049 | 57,733 |
Total assets | 1,598,115 | 1,551,536 |
Current liabilities: | ' | ' |
Trade accounts payable | 457,274 | 459,847 |
Accrued expenses and other current liabilities | 213,284 | 183,406 |
Current portion of capital lease obligations | 2,361 | 2,397 |
Short-term debt obligations and current maturities of long-term debt obligations | 10,903 | 7,551 |
Income taxes payable | 15,656 | 9,396 |
Deferred revenue | 32,533 | 34,109 |
Total current liabilities | 732,011 | 696,706 |
Debt obligations, net of current portion | 188,510 | 286,703 |
Capital lease obligations, net of current portion | 2,872 | 4,589 |
Deferred income taxes | 17,695 | 22,031 |
Other long-term liabilities | 18,572 | 14,967 |
Total liabilities | 959,660 | 1,024,996 |
Euronet Worldwide, Inc. stockholders' equity: | ' | ' |
Preferred Stock, $0.02 par value. 10,000,000 shares authorized; none issued | 0 | 0 |
Common Stock, $0.02 par value. 90,000,000 shares authorized; 54,276,761 issued at December 31, 2013 and 52,976,558 issued at December 31, 2012 | 1,086 | 1,060 |
Additional paid-in capital | 809,640 | 783,508 |
Treasury stock, at cost, 3,650,519 shares at December 31, 2013 and 3,653,958 shares at December 31, 2012 | -68,122 | -67,327 |
Accumulated deficit | -96,029 | -184,015 |
Accumulated other comprehensive loss | -10,453 | -10,850 |
Total Euronet Worldwide, Inc. stockholders' equity | 636,122 | 522,376 |
Noncontrolling interests | 2,333 | 4,164 |
Total equity | 638,455 | 526,540 |
Total liabilities and equity | $1,598,115 | $1,551,536 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts receivable | $22,079 | $21,512 |
Property and equipment, accumulated depreciation | 231,327 | 207,282 |
Acquired intangible assets, accumulated amortization | 132,927 | 140,829 |
Other assets, accumulated amortization | $25,363 | $24,247 |
Preferred stock, par value per share | $0.02 | $0.02 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value per share | $0.02 | $0.02 |
Common stock, shares authorized | 90,000,000 | 90,000,000 |
Common stock, shares, issued | 54,276,761 | 52,976,558 |
Treasury stock, shares | 3,650,519 | 3,653,958 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $375,402 | $360,580 | $341,543 | $335,644 | $351,246 | $316,356 | $302,377 | $297,622 | $1,413,169 | $1,267,601 | $1,161,304 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 892,928 | 812,059 | 740,729 |
Salaries and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 208,244 | 184,055 | 168,474 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 129,427 | 120,575 | 112,507 |
Acquisition-related contingent consideration gain | ' | ' | ' | ' | ' | ' | ' | ' | -19,319 | 0 | 0 |
Goodwill and acquired intangible assets impairment | ' | ' | ' | ' | ' | ' | ' | ' | 18,425 | 28,740 | 0 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 65,053 | 64,167 | 60,457 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,294,758 | 1,209,596 | 1,082,167 |
Operating income | 16,108 | 55,345 | 27,800 | 19,158 | -1,886 | 24,195 | 19,854 | 15,842 | 118,411 | 58,005 | 79,137 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 1,998 | 3,993 | 5,749 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -10,139 | -19,653 | -21,385 |
Income from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 206 | 942 | 1,852 |
Other gains, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,398 | 4,146 | 1,000 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,899 |
Foreign currency exchange gain (loss), net | ' | ' | ' | ' | ' | ' | ' | ' | 2,211 | -99 | -1,662 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,326 | -10,671 | -16,345 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 115,085 | 47,334 | 62,792 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | -27,732 | -26,937 | -24,704 |
Net income | 9,154 | 47,974 | 18,165 | 12,060 | -12,768 | 14,341 | 5,726 | 13,098 | 87,353 | 20,397 | 38,088 |
Less: Net loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 633 | 138 | -1,127 |
Net income attributable to Euronet Worldwide, Inc. | $9,995 | $47,874 | $18,111 | $12,006 | ($13,014) | $14,630 | $5,747 | $13,172 | $87,986 | $20,535 | $36,961 |
Earnings per share attributable to Euronet Worldwide, Inc. stockholders - basic | $0.20 | $0.96 | $0.36 | $0.24 | ($0.26) | $0.29 | $0.11 | $0.26 | $1.76 | $0.41 | $0.73 |
Earnings per share attributable to Euronet Worldwide, Inc. stockholders - diluted | $0.19 | $0.92 | $0.35 | $0.24 | ($0.26) | $0.28 | $0.11 | $0.26 | $1.69 | $0.40 | $0.71 |
Weighted average shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 49,964,819 | 50,529,476 | 50,944,349 |
Weighted average shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 51,982,620 | 51,412,510 | 51,729,513 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $87,353 | $20,397 | $38,088 |
Other comprehensive income (loss), net of tax: | ' | ' | ' |
Translation adjustment | 758 | 10,947 | -26,714 |
Comprehensive income | 88,111 | 31,344 | 11,374 |
Comprehensive loss (income) attributable to noncontrolling interests | 490 | 91 | -943 |
Comprehensive income attributable to Euronet Worldwide, Inc. | $88,601 | $31,435 | $10,431 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity Statement (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
In Thousands, except Share data, unless otherwise specified | |||||||
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2010 | $518,877 | $1,029 | $753,183 | ($5,212) | ($241,511) | $5,122 | $6,266 |
No. of Shares Outstanding Period End at Dec. 31, 2010 | 50,979,356 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 481,589 | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | -1,022,159 | ' | ' | ' | ' | ' |
Net income attributable to Euronet Worldwide, Inc. | 36,961 | ' | ' | ' | 36,961 | ' | ' |
Stock issued under employee stock plans, value | 2,342 | 11 | 2,912 | -581 | ' | ' | ' |
Share-based compensation | 10,758 | ' | 10,758 | ' | ' | ' | ' |
Net income (loss) | 38,088 | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | 1,127 | ' | ' | ' | ' | ' | 1,127 |
Stock Issued During Period, Value, Acquisitions | 0 | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss) | -26,714 | ' | ' | ' | ' | -26,530 | -184 |
Treasury Stock, Value, Acquired, Cost Method | -15,996 | ' | ' | -15,996 | ' | ' | ' |
Acquisition of noncontrolling interest | 0 | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Other | -610 | ' | 369 | -80 | ' | ' | -899 |
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2011 | 526,745 | 1,040 | 767,222 | -21,869 | -204,550 | -21,408 | 6,310 |
No. of Shares Outstanding Period End at Dec. 31, 2011 | 50,438,786 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 868,054 | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | -1,984,240 | ' | ' | ' | ' | ' |
Net income attributable to Euronet Worldwide, Inc. | 20,535 | ' | ' | ' | 20,535 | ' | ' |
Stock issued under employee stock plans, value | 3,406 | 20 | 6,423 | -3,037 | ' | ' | ' |
Share-based compensation | 11,790 | ' | 11,790 | ' | ' | ' | ' |
Net income (loss) | 20,397 | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | -138 | ' | ' | ' | ' | ' | -138 |
Stock Issued During Period, Value, Acquisitions | 0 | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss) | 10,947 | ' | ' | ' | ' | 10,900 | 47 |
Treasury Stock, Value, Acquired, Cost Method | -42,853 | ' | ' | -42,853 | ' | ' | ' |
Acquisition of noncontrolling interest | -3,321 | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Other | -3,892 | ' | -1,927 | 432 | ' | -342 | -2,055 |
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2012 | 526,540 | 1,060 | 783,508 | -67,327 | -184,015 | -10,850 | 4,164 |
No. of Shares Outstanding Period End at Dec. 31, 2012 | 49,322,600 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 1,079,217 | ' | ' | ' | ' | ' |
Net income attributable to Euronet Worldwide, Inc. | 87,986 | ' | ' | ' | 87,986 | ' | ' |
Stock issued under employee stock plans, value | 14,892 | 22 | 15,665 | -795 | ' | ' | ' |
Share-based compensation | 11,463 | ' | 11,463 | ' | ' | ' | ' |
Net income (loss) | 87,353 | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | -633 | ' | ' | ' | ' | ' | -633 |
Shares issued in connection with acquisition | ' | 224,425 | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | 5,296 | 4 | 5,292 | ' | ' | ' | ' |
Other Comprehensive Income (Loss) | 758 | ' | ' | ' | ' | 615 | 143 |
Acquisition of noncontrolling interest | -7,878 | ' | -6,319 | ' | ' | -218 | -1,341 |
Stockholders' Equity, Other | 31 | ' | 31 | ' | ' | ' | ' |
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2013 | $638,455 | $1,086 | $809,640 | ($68,122) | ($96,029) | ($10,453) | $2,333 |
No. of Shares Outstanding Period End at Dec. 31, 2013 | 50,626,242 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $87,353 | $20,397 | $38,088 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 65,053 | 64,167 | 60,457 |
Share-based compensation | 11,463 | 11,823 | 10,756 |
Unrealized foreign exchange gain (loss), net | -2,211 | 99 | 1,662 |
Non-cash impairment of goodwill and acquired intangible assets | 18,425 | 28,740 | 0 |
Acquisition-related contingent consideration gain | -19,319 | 0 | 0 |
Other gains | -2,827 | -4,388 | 0 |
Deferred income taxes | -6,968 | -6,484 | -251 |
Income from unconsolidated affiliates | -206 | -942 | -1,852 |
Accretion of convertible debentures discount and amortization of debt issuance costs | 1,096 | 7,672 | 11,952 |
Loss on early retirement of debt | 0 | 0 | 1,899 |
Changes in working capital, net of amounts acquired: | ' | ' | ' |
Income taxes payable, net | 7,160 | 4,215 | -7,969 |
Restricted cash | -10,328 | -2,010 | 32,719 |
Inventory - PINs and other | 5,918 | -1,980 | 5,482 |
Trade accounts receivable | -19,359 | -12,149 | -62,103 |
Prepaid expenses and other current assets | -1,997 | -2,846 | -20,559 |
Trade accounts payable | 2,263 | 103,279 | 31,926 |
Deferred revenue | -2,375 | 5,177 | -350 |
Accrued expenses and other current liabilities | 32,028 | -37,671 | 1,753 |
Changes in noncurrent assets and liabilities | 4,163 | 7,596 | -5,732 |
Net cash provided by operating activities | 169,332 | 184,695 | 97,878 |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions, net of cash acquired | -30,847 | -22,337 | -78,688 |
Purchases of property and equipment | -40,903 | -46,212 | -46,002 |
Purchases of other long-term assets | -6,258 | -4,439 | -3,183 |
Proceeds from sale of equity method investment | 7,609 | 0 | 0 |
Other, net | 925 | 3,825 | 3,809 |
Net cash used in investing activities | -69,474 | -69,163 | -124,064 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from issuance of shares | 12,809 | 2,884 | 2,397 |
Repurchase of shares | 0 | -42,853 | -15,996 |
Borrowings from revolving credit agreements | 1,991,664 | 1,016,852 | 529,305 |
Repayments of revolving credit agreements | -2,077,774 | -888,733 | -442,111 |
Proceeds from long-term debt obligations | 0 | 0 | 80,000 |
Repayments of long-term debt obligations | -10,086 | -172,352 | -128,000 |
Repayments of capital lease obligations | -2,630 | -2,880 | -2,578 |
Net borrowing from short-term debt obligations | 1,343 | 0 | 0 |
Purchase of subsidiary shares from noncontrolling interests | -7,878 | -3,321 | 0 |
Payment of acquisition contingent consideration | 0 | 0 | -5,455 |
Other, net | 1,336 | -2,173 | -3,645 |
Net cash (used in) provided by financing activities | -91,216 | -92,576 | 13,917 |
Effect of exchange rate changes on cash and cash equivalents | -251 | 1,152 | -5,676 |
Increase (decrease) in cash and cash equivalents | 8,391 | 24,108 | -17,945 |
Cash and cash equivalents at beginning of period | 201,435 | 177,327 | 195,272 |
Cash and cash equivalents at end of period | 209,826 | 201,435 | 177,327 |
Interest paid during the period | 7,720 | 12,502 | 11,883 |
Income taxes paid during the period | 28,400 | 27,275 | 32,944 |
Equity issued in connection with acquisition | 5,296 | 0 | 0 |
Contingent consideration in connection with acquisition | $21,725 | $0 | $0 |
Organzation_Note
Organzation (Note) | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization Disclosure [Text Block] | ' |
Organization | |
Euronet Worldwide, Inc. (the “Company” or “Euronet”) was established as a Delaware corporation on December 13, 1997 and succeeded Euronet Holding N.V. as the group holding company, which was founded and established in 1994. Euronet is a leading electronic payments provider. Euronet offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Euronet's primary product offerings include comprehensive automated teller machine (“ATM”), point-of-sale (“POS”), card outsourcing, card issuing and merchant acquiring services; electronic distribution of prepaid mobile airtime and other electronic payment products, and global consumer money transfer services. |
Basis_of_Preparation
Basis of Preparation | 12 Months Ended |
Dec. 31, 2013 | |
BASIS OF PREPARATION [Abstract] | ' |
Basis of Preparation and Seasonality [Text Block] | ' |
Basis of Preparation | |
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of Euronet and its wholly owned and majority owned subsidiaries and all significant intercompany balances and transactions have been eliminated. Euronet's investments in companies that it does not control, but has the ability to significantly influence, are accounted for under the equity method. Euronet is not involved with any variable interest entities. Results from operations related to entities acquired during the periods covered by the consolidated financial statements are reflected from the effective date of acquisition. Certain amounts in prior years have been reclassified to conform to the current year's presentation. | |
The preparation of the consolidated financial statements in conformity with U.S. GAAP requires that management make a number of estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant items subject to such estimates and assumptions include computing income taxes, contingent purchase price consideration, estimating the useful lives and potential impairment of long-lived assets and goodwill, as well as allocating the purchase price to assets acquired and liabilities assumed in acquisitions and revenue recognition. Actual results could differ from those estimates. | |
Seasonality | |
Euronet’s EFT and epay segments are significantly impacted by seasonality during the fourth quarter and first quarter of each year due to higher transaction levels during the holiday season and lower levels following the holiday season. Additionally, mostly in Europe, the EFT business experiences its heaviest demand for dynamic currency conversion services during the third quarter of the fiscal year, coinciding with the tourist season. Seasonality in the money transfer segment varies by region of the world. In most markets, Euronet usually experiences increased demand for money transfer services from the month of May through the fourth quarter of each year, coinciding with the increase in worker migration patterns and various holidays, and our lowest transaction levels during the first quarter of the year. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies and Practices (Note) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES | ' | |
Summary of Significant Accounting Policies and Practices | ||
Foreign currencies | ||
Assets and liabilities denominated in currencies other than the functional currency of a subsidiary are remeasured at rates of exchange on the balance sheet date. Resulting gains and losses on foreign currency transactions are included in the Consolidated Statements of Income. | ||
The financial statements of foreign subsidiaries where the functional currency is not the U.S. dollar are translated to U.S. dollars using (i) exchange rates in effect at period end for assets and liabilities, and (ii) weighted average exchange rates during the period for revenues and expenses. Adjustments resulting from translation of such financial statements are reflected in accumulated other comprehensive income (loss) as a separate component of consolidated equity. | ||
Cash equivalents | ||
The Company considers all highly liquid investments, with an original maturity of three months or less, and certificates of deposit, which may be withdrawn at any time at the discretion of the Company without penalty, to be cash equivalents. | ||
Inventory - PINs and other | ||
Inventory - PINs and other is valued at the lower of cost or market value and primarily represents prepaid personal identification number (“PIN”) inventory for prepaid mobile airtime related to the epay Segment. PIN inventory is generally managed on a specific identification basis that approximates first in, first out for the respective denomination of prepaid mobile airtime sold. Inventory also includes vouchers, merchandise for physical reward fulfillment and other electronic payment products. Additionally, from time to time, Inventory - PINs and other may include POS terminals, mobile phone handsets and ATMs held by the Company for resale. | ||
Property and equipment | ||
Property and equipment are stated at cost, less accumulated depreciation. Property and equipment acquired in acquisitions have been recorded at estimated fair values as of the acquisition date. | ||
Depreciation is generally calculated using the straight-line method over the estimated useful lives of the respective assets. Depreciation and amortization rates are generally as follows: | ||
ATMs or ATM upgrades | 5 - 7 years | |
Computers and software | 3 - 5 years | |
POS terminals | 2 - 5 years | |
Vehicles and office equipment | 2 - 10 years | |
Leasehold improvements | Over the lesser of the lease term or estimated useful life | |
Goodwill and other intangible assets | ||
The Company accounts for goodwill and other intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350, Intangibles - Goodwill and Other. ASC Topic 350 requires that the Company test for impairment on an annual basis and whenever events or circumstances dictate. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. | ||
In September 2011, the FASB issued Accounting Standards Update ("ASU") 2011-08, Intangibles - Goodwill and Other ("Topic 350)": Testing Goodwill for Impairment. The guidance provides an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (more than 50%) that the estimated fair value of a reporting unit is less than its carrying amount. If an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not, the entity is then required to perform the existing two-step quantitative impairment test (described below), otherwise no further analysis is required. An entity also may elect not to perform the qualitative assessment and, instead, proceed directly to the two-step quantitative impairment test. The ultimate outcome of the goodwill impairment review for a reporting unit should be the same whether an entity chooses to perform the qualitative assessment or proceeds directly to the two-step quantitative impairment test. The Company adopted ASU 2011-08 effective January 1, 2012, and as a result, instituted a policy for its annual review of goodwill to perform the qualitative assessment for all reporting units not subjected directly to the two-step quantitative impairment test. | ||
Under the qualitative assessment, various events and circumstances (or factors) that would affect the estimated fair value of a reporting unit are identified (similar to impairment indicators). These factors are then classified by the type of impact they would have on the estimated fair value using positive, neutral, and adverse categories based on current business conditions. Furthermore, the Company considers the results of the most recent two-step quantitative impairment test completed for a reporting unit and compares, among other factors, the weighted average cost of capital ("WACC") between the current and prior years for each reporting unit. | ||
During the 2013 annual goodwill impairment test, the Company performed the qualitative assessment for eleven reporting units and concluded that it was more likely than not that the estimated fair values of eight reporting units were more than their carrying values. As such, no further analysis was required. For the remaining three reporting units, the Company concluded that it was more likely than not that the fair values of the reporting units were less than their carrying values; therefore, the Company proceeded to the two-step quantitative impairment test. | ||
Under the two-step quantitative impairment test, the evaluation of impairment involves comparing the current fair value of each reporting unit to its carrying value, including goodwill. The Company uses weighted results from the discounted cash flow model ("DCF model") and guideline public company method ("Market Approach model") to estimate the current fair value of its reporting units when testing for impairment, as management believes forecasted cash flows and EBITDA are the best indicator of such fair value. A number of significant assumptions and estimates are involved in the application of the DCF model to forecast operating cash flows, including sales volumes and gross margins, tax rates, capital spending, discount rates and working capital changes. Most of these assumptions vary significantly among the reporting units. Significant assumptions in the Market Approach model are projected EBITDA, selected market multiple, and the estimated control premium. | ||
In the event the estimated fair value of a reporting unit is less than the carrying value, additional analysis is required. The additional analysis would compare the carrying amount of the reporting unit's goodwill with the implied fair value of that goodwill. The implied fair value of goodwill is the excess of the fair value of the reporting unit over the fair value amounts assigned to all of the assets and liabilities of that unit as if the reporting unit was acquired in a business combination and the fair value of the reporting unit represented the purchase price. If the carrying value of goodwill exceeds its implied fair value, an impairment loss equal to such excess would be recognized. | ||
During the 2013 annual goodwill impairment test, the Company completed the two-step quantitative impairment test for nine reporting units. As a result, the Company recorded a non-cash goodwill impairment charge of $18.4 million with respect to the epay Australia and epay Spain reporting units. | ||
During the 2012 annual goodwill impairment test, the Company completed the two-step quantitative impairment test for eight reporting units. As a result, the Company recorded a non-cash goodwill impairment charge of $23.5 million with respect to the epay Brazil reporting unit. | ||
Other Intangibles - In accordance with ASC Topic 350, intangible assets with finite lives are amortized over their estimated useful lives. Unless otherwise noted, amortization is calculated using the straight-line method over the estimated useful lives of the assets as follows: | ||
Non-compete agreements | 2 - 5 years | |
Trademarks and trade names | 2 - 20 years | |
Software | 3 - 10 years | |
Customer relationships | 6 - 12 years | |
The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. During 2012, the Company recorded a non-cash impairment charge of $5.2 million with respect to the customer relationships of the epay Brazil business. No impairment of long-lived assets was recorded during 2013. | ||
See Note 8, Goodwill and Acquired Intangible Assets, Net, for additional information regarding the impairment of goodwill and other intangible assets. | ||
Other assets | ||
Other assets include deferred financing costs, investments in unconsolidated affiliates, capitalized software development costs and capitalized payments for new or renewed contracts, contract renewals and customer conversion costs. Deferred financing costs represent expenses incurred to obtain financing that have been deferred and are being amortized over the life of the loan. Euronet capitalizes initial payments for new or renewed contracts to the extent recoverable through future operations, contractual minimums and/or penalties in the case of early termination. The Company's accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated ongoing net future cash flows related to the contract or the termination fees the Company would receive in the event of early termination of the contract by the customer. | ||
The Company accounts for investments in affiliates using the equity method of accounting when it has the ability to exercise significant influence over the affiliate. Equity losses in affiliates are generally recognized until the Company's investment is zero. As of December 31, 2012, investments in affiliates, related to the Company's 40% investment in epay Malaysia was $4.7 million; undistributed earnings in epay Malaysia was $4.6 million. In July 2013, the Company completed the sale of its investment in epay Malaysia for $7.6 million, which resulted in the recognition of a $2.8 million gain. As of December 31, 2013, the Company had no material investments in unconsolidated affiliates. | ||
Software capitalization | ||
Computer software to be sold - The Company applies ASC Topic 730, Research and Development, and ASC Topic 985 in recording research and development costs. Research costs related to the discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, or a new process or technique, or in bringing about significant improvement to an existing product or process, are expensed as incurred (also see Note 18, Computer Software to be Sold). Development costs aimed at the translation of research findings or other knowledge into a plan or design for a new product or process, or for a significant improvement to an existing product or process, whether intended for sale or use, are capitalized on a product-by-product basis when technological feasibility is established. Capitalization of computer software costs is discontinued when the computer software product is available to be sold, leased, or otherwise marketed. | ||
Technological feasibility of computer software products is established when the Company has completed all planning, designing, coding, and testing activities that are necessary to establish that the product can be produced to meet its design specifications including functions, features and technical performance requirements. Technological feasibility is evidenced by the existence of a working model of the product or by completion of a detail program design. The detail program design (i) establishes that the necessary skills, hardware, and software technology are available to produce the product, (ii) is complete and consistent with the product design, and (iii) has been reviewed for high-risk development issues, with any uncertainties related to identified high-risk development issues being adequately resolved. | ||
Capitalized software costs are included in other assets and are amortized on a product-by-product basis, equal to the greater of the amount computed using (i) the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product or (ii) the straight-line method over the remaining estimated economic life of the product, generally three years at inception. Amortization commences when the product is available for general release to customers. | ||
Software for internal use - The Company also develops software for internal use. These software development costs, as well as costs incurred for significant enhancements and upgrades, are capitalized based upon ASC 350-40. Internal-use software development costs are capitalized after the preliminary project stage is completed and management with the relevant authority authorizes and commits to funding a computer software project and it is probable that the project will be completed and the software will be used to perform the function intended. Costs incurred prior to meeting the qualifications are expensed as incurred. Capitalization ceases when the computer software project is substantially complete and ready for its intended use. Capitalized software for internal use is included in property and equipment. | ||
Convertible debentures | ||
The Company accounts for its convertible debt instruments that may be settled in cash upon conversion in accordance with ASC Topic 470, Debt, which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company's nonconvertible debt borrowing rate. Further, the Company applies ASC 470-20-35-13, which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense. | ||
Noncontrolling interests | ||
The Company accounts for noncontrolling interests in its consolidated financial statements according to ASC Topic 810, Consolidations, which requires noncontrolling interests to be reported as a component of equity. | ||
Business combinations | ||
The Company accounts for business combinations in accordance with ASC Topic 805, Business Combinations, which requires most identifiable assets, liabilities, noncontrolling interests and goodwill acquired in a business combination to be recorded at “full fair value” at the acquisition date. Additionally, ASC Topic 805 requires transaction-related costs to be expensed in the period incurred. | ||
Income taxes | ||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||
In accordance with ASC Topic 740, Income Taxes, the Company's policy is to record estimated interest and penalties related to the underpayment of income taxes as income tax expense in the Consolidated Statements of Income. See Note 13, Taxes, for further discussion regarding these provisions. | ||
Presentation of taxes collected and remitted to governmental authorities | ||
The Company presents taxes collected and remitted to governmental authorities on a net basis in the accompanying Consolidated Statements of Income. | ||
Fair value measurements | ||
The Company applies the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, regarding fair value measurements for assets and liabilities. ASC Topic 820 defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. The provisions apply whenever other accounting pronouncements require or permit fair value measurements. See Note 17, Financial Instruments and Fair Value Measurements, for the required fair value disclosures. | ||
Accounting for derivative instruments and hedging activities | ||
The Company accounts for derivative instruments and hedging activities in accordance with ASC Topic 815, Derivatives and Hedging, which requires that all derivative instruments be recognized as either assets or liabilities on the balance sheet at fair value. Primarily in the Money Transfer Segment, the Company enters into foreign currency derivative contracts, mainly forward contracts, to offset foreign currency exposure related to the notional value of money transfer settlement assets and liabilities in currencies other than the U.S. dollar. These contracts are considered derivative instruments under the provisions of ASC Topic 815; however, the Company does not designate such instruments as hedges for accounting purposes. Accordingly, changes in the value of these contracts are recognized immediately as a component of foreign currency exchange gain (loss), net in the Consolidated Statements of Income. The impact of changes in value of these contracts, together with the impact of the change in value of the related foreign currency denominated settlement asset or liability, on the Company's Consolidated Statements of Income and Consolidated Balance Sheets is not significant. | ||
Cash flows resulting from derivative instruments are included in operating activities in the Company's Consolidated Statements of Cash Flows. The Company enters into derivative instruments with highly credit-worthy financial institutions and does not use derivative instruments for trading or speculative purposes. See Note 11, Derivative Instruments and Hedging Activities, for further discussion of derivative instruments. | ||
Revenue recognition | ||
The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collection is reasonably assured. The majority of the Company's revenues are comprised of monthly recurring management fees and transaction-based fees. A description of the major components of revenue by business segment is as follows: | ||
EFT Processing - Revenues in the EFT Processing Segment are primarily derived from transaction and management fees and foreign currency exchange margin from owned and outsourced ATM, POS and card processing networks and from the sale of EFT software solutions for electronic payment and transaction delivery systems, and fees or margin earned from value added services, including dynamic currency conversion. | ||
Transaction-based fees include charges for cash withdrawals, debit or credit card transactions, balance inquiries, transactions not completed because the relevant card issuer does not give authorization and prepaid mobile airtime recharges. Outsourcing services are generally billed on the basis of a fixed monthly fee per ATM, plus a transaction-based fee. Transaction-based fees are recognized at the time the transactions are processed and outsourcing management fees are recognized ratably over the contract period. | ||
Certain of the Company's non-cancelable customer contracts provide for the receipt of up-front fees from the customer and/or decreasing or increasing fee schedules over the agreement term for substantially the same level of services to be provided by the Company. As prescribed in SEC Staff Accounting Bulletin (“SAB”) 101, “Revenue Recognition in Financial Statements,” as amended by SAB 104, “Revenue Recognition,” the Company recognizes revenue under these contracts based on proportional performance of services over the term of the contract. This generally results in “straight-line” (i.e., consistent value per period) revenue recognition of the contracts' total cash flows, including any up-front payment received from the customer. | ||
Revenues from the sale of EFT software solutions represent software license fees, professional installation and customization fees, ongoing software maintenance fees, hardware sales and transaction fees. The Company recognizes professional service fee revenue in accordance with the provisions of ASC Topic 985, Software and ASC Topic 605, Revenue Recognition. ASC Topic 985 generally requires revenue earned on software arrangements involving multiple elements to be allocated to each element based on the relative fair values of those elements. | ||
Revenues from software licensing agreement contracts are recognized over the professional services portion of the contract term using the percentage-of-completion method, following the guidance in ASC Topic 605, as prescribed by ASC Topic 985. Software maintenance revenue is recognized over the contractual period or as the maintenance-related service is performed. Revenues from the sale of hardware are generally recognized when title passes to the customer. Revenues in excess of billings on software licensing agreements were $0.8 million and $1.1 million as of December 31, 2013 and 2012, respectively, and are recorded in prepaid expenses and other current assets. Billings in excess of revenues on software license agreements were $2.4 million and $2.5 million as of December 31, 2013 and 2012, respectively, and are recorded as deferred revenue until such time the revenue recognition criteria are met. | ||
epay - Revenue generated in the epay Segment is primarily derived from commissions or processing fees associated with distribution and/or processing of prepaid mobile airtime and other electronic payment products. These fees and commissions are received from mobile phone and other telecommunication operators, top-up distributors, other product vendors or distributors or from retailers. In accordance with ASC Topic 605, commissions received are recognized as revenue during the period in which the Company provides the service. The portion of the commission that is paid to retailers is generally recorded as a direct operating cost. However, in circumstances where the Company is not the primary obligor in the distribution of the electronic payment products, those commissions are recorded as a reduction of revenue. In selling certain products, the Company is the primary obligor in the arrangements; accordingly, the gross sales value of the products are recorded as revenue and the purchase cost as direct operating cost. Transactions are processed through a network of POS terminals and direct connections to the electronic payment systems of retailers. Transaction processing fees are recognized at the time the transactions are processed. | ||
Money Transfer - In accordance with ASC Topic 605, revenues for money transfer and other services represent a transaction fee in addition to a margin earned from purchasing currency at wholesale exchange rates and selling the currency to consumers at retail exchange rates. Revenues and the associated direct operating cost are recognized at the time the transaction is processed. The Company has origination and distribution agents in place, which each earn a fee for the respective service. These fees are reflected as direct operating costs. | ||
Share-based compensation | ||
The Company follows the provisions of ASC Topic 718, Compensation - Stock Compensation, for equity classified awards, which requires the determination of the fair value of the share-based compensation at the grant date and subsequent recognition of the related expense over the period in which the share-based compensation is earned (“requisite service period”). | ||
The amount of future compensation expense related to awards of nonvested shares or nonvested share units (“restricted stock”) is based on the market price for Euronet Common Stock at the grant date. The grant date is the date at which all key terms and conditions of the grant have been determined and the Company becomes contingently obligated to transfer equity to the employee who renders the requisite service, generally the date at which grants are approved by the Company's Board of Directors or Compensation Committee thereof. Share-based compensation expense for awards with only service conditions is generally recognized as expense on a “straight-line” basis over the requisite service period. For awards that vest based on achieving periodic performance conditions, expense is recognized on a “graded attribution method.” The graded attribution method results in expense recognition on a straight-line basis over the requisite service period for each separately vesting portion of an award. The Company has elected to use the “with and without method” when calculating the income tax benefit associated with its share-based payment arrangements. See Note 15, Stock Plans, for further disclosure. |
Stockholders_Equity_Note
Stockholders' Equity (Note) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
EARNINGS PER SHARE | ' | |||||||||
Stockholders' Equity | ||||||||||
Earnings Per Share | ||||||||||
Basic earnings per share has been computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the respective period. Diluted earnings per share has been computed by dividing earnings available to common stockholders by the weighted average shares outstanding during the respective period, after adjusting for the potential dilution of options to purchase the Company's Common Stock, assumed vesting of restricted stock and the assumed conversion of the Company's convertible debentures. | ||||||||||
The following table provides the computation of diluted weighted average number of common shares outstanding: | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Computation of diluted weighted average shares outstanding: | ||||||||||
Basic weighted average shares outstanding | 49,964,819 | 50,529,476 | 50,944,349 | |||||||
Incremental shares from assumed exercise of stock options and vesting of restricted stock | 1,953,484 | 883,034 | 785,164 | |||||||
Incremental shares from assumed conversion of convertible debentures | 64,317 | — | — | |||||||
Diluted weighted average shares outstanding | 51,982,620 | 51,412,510 | 51,729,513 | |||||||
The table includes all stock options and restricted stock that are dilutive to the Company's weighted average common shares outstanding during the period. The calculation of diluted earnings per share excludes stock options or shares of restricted stock that are anti-dilutive to the Company's weighted average common shares outstanding for the years ended December 31, 2013, 2012 and 2011 of approximately 438,000, 3,679,000 and 1,956,000, respectively. | ||||||||||
The Company had convertible debentures that, if converted, would have had a potentially dilutive effect on its Common Stock. In September 2013, the Company repurchased at par the remaining $3.6 million of principal amount of the convertible debentures outstanding. As required by ASC Topic 260, Earnings per Share, if dilutive, the impact of the contingently issuable shares must be included in the calculation of diluted earnings per share under the “if-converted” method, regardless of whether the conditions upon which the debentures would be convertible into shares of the Company’s Common Stock have been met. Under the if-converted method, the dilutive effect of the assumed conversion of the debentures was 64,317 shares for the year ended December 31, 2013. The assumed conversion of the debentures was anti-dilutive for the years ended December 31, 2012 and 2011. | ||||||||||
Share repurchases | ||||||||||
In August 2011, the Board of Directors authorized a stock repurchase program ("2011 Program") allowing the Company to repurchase up to $100 million in value or 5.0 million shares of its Common Stock. During 2011 and 2012, the Company repurchased 1.0 million shares for a total value of $16.0 million and 2.0 million shares for a total value of $42.9 million, respectively, under the 2011 Program. The average purchase price per share was $15.65 and $21.60 for the years ended December 31, 2011 and 2012, respectively. The 2011 program expired in August 2013. | ||||||||||
In September 2013, the Board of Directors authorized a stock repurchase program through September 19, 2015 ("2013 program") allowing the Company to repurchase up to $100 million in value or 5.0 million shares of its Common Stock. Because of constraints established in the Company's Credit Agreement, repurchases may only begin after December 31, 2013. Repurchases under the 2013 Program may take place in the open market or in privately negotiated transactions, including derivative transactions, and may be made under a Rule 10b5-1 plan. | ||||||||||
Preferred Stock | ||||||||||
The Company has the authority to issue up to 10 million shares of preferred stock, of which no shares are currently issued or outstanding. | ||||||||||
Stockholder Rights Agreement | ||||||||||
On March 26, 2013, the Company entered into a new Rights Agreement (the "Rights Agreement") with Computershare Trust Company, N.A., as Rights Agent. The Rights Agreement became effective at the close of business on April 3, 2013, immediately following the expiration of the prior rights agreement, and has a three year term. In connection with its approval of the Rights Agreement, the Board of Directors also declared a dividend of one "Right" for each outstanding share of Euronet's common stock, payable on April 3, 2013 to stockholders of record at the close of business on April 3, 2013. As long as the Rights are attached to the common shares, the Company will issue one Right (subject to adjustment) with each new common share that is issued so that all such shares will have attached Rights. When exercisable, each Right will initially entitle the registered holder to purchase from the Company one one-hundredth of a share of Series A Junior Participating Preferred Stock at a price of $125 per one one-hundredth of a share, subject to adjustment. Upon occurrence of a trigger event under the Rights Agreement, each holder of a Right (excluding certain holders) thereafter would have the right to receive upon exercise a number of common shares having a market value of two times the then current price of the Right. | ||||||||||
The Rights are not exercisable until the earlier of (i) ten business days following a public announcement that (or a majority of the Board of Directors of the Company becoming aware that) a person or group of affiliated or associated persons or any person acting in concert therewith, has acquired, or obtained the right to acquire beneficial ownership of 20% or more of the Company's common shares (as defined in the Rights Agreement), or (ii) ten business days following the commencement or announcement of an intention to make a tender offer or exchange offer, the consummation of which would result in any person becoming an acquiring person (as defined in the Rights Agreement), unless the Board of Directors sets a later date in either event. The Rights Agreement is intended to encourage a potential acquiring person to negotiate directly with the Board of Directors, but may have certain anti-takeover effects. The Rights Agreement could significantly dilute the interests in the Company of an acquiring person. The Rights may therefore have the effect of delaying, deterring or preventing a change in control of the Company. The Rights have a de minimus fair value and expire on April 3, 2016. | ||||||||||
Accumulated other comprehensive loss | ||||||||||
As of December 31, 2013 and 2012, accumulated other comprehensive loss consists entirely of foreign currency translation adjustments. The Company recorded a foreign currency translation gain of $0.8 million and $10.9 million for the years ended December 31, 2013 and 2012, respectively. For the year ended December 31, 2011, the Company recorded a foreign currency translation loss of $26.7 million. During 2013, the Company reclassified $0.3 million of foreign currency translation into the Consolidated Statements of Income. There were no reclassifications of foreign currency translation into the Consolidated Statements of Income for the years ending December 31, 2012 and 2011. |
Acquisitions_Note
Acquisitions (Note) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Acquisitions [Abstract] | ' | ||||||
Acquisitions [Text Block] | ' | ||||||
Acquisitions | |||||||
In accordance with ASC Topic 805, the Company allocates the purchase price of its acquisitions to the tangible assets, liabilities and intangible assets acquired based on fair values. Any excess purchase price over those fair values is recorded as goodwill. The fair value assigned to intangible assets acquired is supported by valuations using estimates and assumptions provided by management. Generally, for certain large acquisitions, management engages an appraiser to assist in the valuation process. | |||||||
2013 Acquisitions | |||||||
On January 4, 2013, the Company acquired all of the common stock of an Australian company, Pure Commerce Pty Limited (“Pure Commerce”), which offers industry leading currency conversion and multi-currency acquiring products to global, local and online merchant acquirers, banks and retailers. The purchase price consisted of cash of approximately $31.3 million, subject to customary purchase price adjustments, and $5.3 million of the Company's common stock. With respect to the stock portion of the purchase price and pursuant to the acquisition agreement, the Company issued at closing 224,425 shares of common stock to the shareholders of Pure Commerce. The common stock will be held in escrow through September 2014 to secure certain obligations of the sellers. Further, Euronet agreed, pursuant to an earnout provision, to pay additional purchase consideration of up to $30.0 million Australian dollars, with half due in cash and the remaining half payable in Euronet common stock in March 2014, if certain performance targets were met during the measurement period ending December 31, 2013. As of the acquisition date, the fair value of the contingent consideration liability was $21.7 million. As of December 31, 2013, the Company forecasted that Pure Commerce will not meet the minimum performance targets necessary to require the Company to pay contingent consideration. See Note 17, Financial Instruments and Fair Value Measurements, for additional information related to the contingent consideration liability. | |||||||
The following table summarizes the fair values of the acquired net assets at the acquisition date: | |||||||
(dollar amounts in thousands) | Estimated | ||||||
Life | |||||||
Current assets | $ | 4,805 | |||||
Property and equipment | 2 - 8 years | 331 | |||||
Non-compete agreements | 4 years | 755 | |||||
Proprietary software | 10 years | 11,912 | |||||
Customer relationships | 12 years | 18,230 | |||||
Trademarks and trade names | 20 years | 2,382 | |||||
Goodwill | Indefinite | 27,917 | |||||
Other non-current assets | 402 | ||||||
Fair value of assets | 66,734 | ||||||
Current liabilities | (4,783 | ) | |||||
Other non-current liabilities | (3,683 | ) | |||||
Net assets acquired | $ | 58,268 | |||||
2012 Acquisitions | |||||||
In January 2012, the Company acquired the remaining 51% of the common stock of Euronet Middle East W.L.L. which it did not previously own. The purchase price of approximately $6.4 million was paid from cash on hand. Accordingly, the assets and liabilities of Euronet Middle East W.L.L. were recorded at fair value, which resulted in a $4.4 million pre-tax gain on the 49% interest previously owned. | |||||||
In November 2012, the Company acquired certain assets and retail contracts of ezi-pay Limited ("ezi-pay"), which added additional product offerings, and processing and distribution services for New Zealand-specific brands to the Company's epay operations in Europe. The purchase price of approximately $19.7 million was paid from cash on hand. Additionally, $3.3 million in cash is being held in escrow to secure certain obligations of the sellers under the Sale and Purchase Agreement. | |||||||
The following table summarizes the fair values of the acquired net assets at the respective acquisition dates: | |||||||
(dollar amounts in thousands) | Estimated | ||||||
Life | |||||||
Current assets | $ | 9,504 | |||||
Property and equipment | 2 - 5 years | 1,098 | |||||
Non-compete agreements | 2 - 4 years | 588 | |||||
Trademarks and trade names | 4 years | 372 | |||||
Customer relationships | 8 years | 9,896 | |||||
Goodwill | Indefinite | 12,812 | |||||
Other non-current assets | 71 | ||||||
Fair value of assets | 34,341 | ||||||
Current liabilities | (2,150 | ) | |||||
Net assets acquired | $ | 32,191 | |||||
2011 Acquisitions | |||||||
On September 16, 2011, the Company acquired all the common stock of cadooz Holding GmbH and its wholly owned operating subsidiaries ("cadooz"), which added additional product offerings to the Company's epay operations in Europe. The purchase price of approximately $54.7 million was paid from cash on hand. In addition, we established a liability for additional purchase price consideration to be paid based upon the level of revenue achieved by one of cadooz's subsidiaries for the three-year period ending in February 2014. Additionally, $4.1 million in cash is being held in escrow to secure certain obligations of the sellers under the Sale and Purchase Agreement. | |||||||
In December 2011, the Company acquired Smart PayNetwork SA, an ATM and card processing company in Romania, for $18.3 million in cash. In November 2011, the Company acquired an integrated network of ATMs in Poland, known as cash4you, for $5.3 million in cash. In June 2011, the Company also acquired the net assets of a Canada-based check-cashing company for approximately $3.4 million in cash. | |||||||
The following table summarizes the fair values of the acquired net assets at the respective acquisition dates: | |||||||
(dollar amounts in thousands) | Estimated | ||||||
Life | |||||||
Current assets | $ | 28,292 | |||||
Property and equipment | 3 - 13 years | 6,938 | |||||
Software | 3 years | 390 | |||||
Customer relationships | 8 - 12 years | 26,104 | |||||
Trademarks and trade names | 10 - 20 years | 2,122 | |||||
Goodwill | Indefinite | 56,855 | |||||
Other non-current assets | 63 | ||||||
Fair value of assets | 120,764 | ||||||
Current liabilities | (28,118 | ) | |||||
Deferred income tax liability | (7,267 | ) | |||||
Other non-current liabilities | (3,759 | ) | |||||
Net assets acquired | $ | 81,620 | |||||
Restricted_Cash_Note
Restricted Cash (Note) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
RESTRICTED CASH [Abstract] | ' | ||||||||
Restricted Assets Disclosure [Text Block] | ' | ||||||||
Restricted Cash | |||||||||
The restricted cash balances as of December 31, 2013 and 2012 were as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Cash held in trust and/or cash held on behalf of others | $ | 71,003 | $ | 55,162 | |||||
Collateral on bank credit arrangements and other | 6,984 | 16,446 | |||||||
Total | $ | 77,987 | $ | 71,608 | |||||
Cash held in trust and/or cash held on behalf of others is in connection with the administration of the customer collection and vendor remittance activities by certain subsidiaries within the Company's epay and EFT Segments. Amounts collected on behalf of certain mobile phone operators and/or merchants are deposited into a restricted cash account. The bank credit arrangements primarily represent cash collateral on deposit with commercial banks to cover guarantees. |
Property_and_Equipment_Net_Not
Property and Equipment, Net (Note) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
PROPERTY AND EQUIPMENT, NET [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
Property and Equipment, Net | |||||||||
The components of property and equipment, net of accumulated depreciation and amortization as of December 31, 2013 and 2012 are as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
ATMs | $ | 132,315 | $ | 119,238 | |||||
POS terminals | 49,427 | 49,118 | |||||||
Vehicles and office equipment | 48,829 | 47,221 | |||||||
Computers and software | 116,289 | 106,541 | |||||||
Land and buildings | 697 | 639 | |||||||
347,557 | 322,757 | ||||||||
Less accumulated depreciation and amortization | (231,327 | ) | (207,282 | ) | |||||
Total | $ | 116,230 | $ | 115,475 | |||||
Depreciation and amortization expense related to property and equipment, including property and equipment recorded under capital leases, for the years ended December 31, 2013, 2012 and 2011 was $39.7 million, $38.7 million and $35.4 million, respectively. |
Goodwill_and_Acquired_Intangib
Goodwill and Acquired Intangible Assets, Net (Note) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET | ' | ||||||||||||||||
Goodwill and Acquired Intangible Assets, Net | |||||||||||||||||
Goodwill represents the excess of the purchase price of the acquired business over the estimated fair value of the underlying net tangible and intangible assets acquired. The following table summarizes intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||
(in thousands) | Gross Carrying | Accumulated | Gross Carrying | Accumulated | |||||||||||||
Amount | Amortization | Amount | Amortization | ||||||||||||||
Customer relationships | $ | 162,585 | $ | (109,964 | ) | $ | 172,280 | $ | (120,117 | ) | |||||||
Trademarks and trade names | 46,129 | (15,806 | ) | 44,226 | (13,742 | ) | |||||||||||
Software | 15,514 | (6,276 | ) | 5,914 | (5,645 | ) | |||||||||||
Non-compete agreements | 1,725 | (881 | ) | 1,798 | (1,325 | ) | |||||||||||
Total | $ | 225,953 | $ | (132,927 | ) | $ | 224,218 | $ | (140,829 | ) | |||||||
The following table summarizes the goodwill and amortizable intangible assets activity for the years ended December 31, 2012 and 2013: | |||||||||||||||||
(in thousands) | Acquired | Goodwill | Total | ||||||||||||||
Intangible | Intangible | ||||||||||||||||
Assets | Assets | ||||||||||||||||
Balance as of January 1, 2012 | $ | 99,878 | $ | 488,628 | $ | 588,506 | |||||||||||
Increases (decreases): | |||||||||||||||||
2012 acquisitions | 10,856 | 12,812 | 23,668 | ||||||||||||||
Impairment | (5,235 | ) | (23,505 | ) | (28,740 | ) | |||||||||||
Amortization | (22,129 | ) | — | (22,129 | ) | ||||||||||||
Other (primarily changes in foreign currency exchange rates) | 19 | 3,825 | 3,844 | ||||||||||||||
Balance as of December 31, 2012 | 83,389 | 481,760 | 565,149 | ||||||||||||||
Increases (decreases): | |||||||||||||||||
2013 acquisitions | 33,279 | 27,917 | 61,196 | ||||||||||||||
Impairment | — | (18,425 | ) | (18,425 | ) | ||||||||||||
Amortization | (21,116 | ) | — | (21,116 | ) | ||||||||||||
Other (primarily changes in foreign currency exchange rates) | (2,526 | ) | 7,183 | 4,657 | |||||||||||||
Balance as of December 31, 2013 | $ | 93,026 | $ | 498,435 | $ | 591,461 | |||||||||||
The Company performs its annual goodwill impairment test during the fourth quarter of each year. As a result of the 2013 and 2012 annual goodwill impairment tests, the Company recorded non-cash goodwill impairment charges of $18.4 million and $23.5 million, respectively. The annual goodwill impairment test completed during the fourth quarter of 2011 resulted in no impairment charge. | |||||||||||||||||
In performing the annual goodwill impairment test, management must apply judgment in determining the estimated fair value of a business and uses all available information to make these fair value determinations, including discounted projected future cash flow analysis using discount rates commensurate with the risks involved in the assets, together with comparable sales prices that the Company or another purchaser would likely pay for the respective assets. | |||||||||||||||||
Of the total goodwill balance of $498.4 million as of December 31, 2013, $246.3 million relates to the Money Transfer Segment, $187.7 million relates to the epay Segment and the remaining $64.5 million relates to the EFT Processing Segment. Amortization expense for intangible assets with finite lives was $21.1 million, $22.1 million and $22.2 million for the years ended December 31, 2013, 2012 and 2011, respectively. Estimated annual amortization expense, before income taxes, on intangible assets with finite lives as of December 31, 2013, is expected to total $18.2 million for 2014, $12.9 million for 2015, $11.3 million for 2016, $9.5 million for 2017 and $7.1 million for 2018. | |||||||||||||||||
2013 Impairment Charges | |||||||||||||||||
As a result of the 2013 annual goodwill impairment test, the Company recorded non-cash goodwill impairment charges related to its epay reporting units in Australia and Spain of $12.3 million and $6.1 million, respectively. The goodwill impairment charge in Australia was the result of continuing declines in the demand for mobile top-up services, caused by certain large retailers (which have a significant share of the retail market) negotiating direct agreements with two mobile operators and certain mobile operators modifying their distribution strategies to drive consumer demand for top-up services to on-line or mobile device channels. In Spain, the goodwill impairment charge was the result of the longer term effect of poor economic conditions, including continued high levels of unemployment and increased competitive pressures. In response to the business challenges in Australia and Spain, the Company has continued to sell additional products and services to mobile operators and develop strategies to increase the distribution of other prepaid products. However, in the fourth quarter of 2013, the Company concluded that while future cash flows from existing agreements with mobile operators and from the launch of new products would likely grow steadily over time, the growth would not add the level of cash flows previously forecasted. Based upon these revised future cash flow forecasts, the Company concluded that the resulting valuations were not sufficient to support the goodwill carrying values of epay Australia and epay Spain. Therefore, the impairment charges were recorded in the period. There are no remaining goodwill or acquired intangible assets in the epay Australia and Spain reporting units as of December 31, 2013. | |||||||||||||||||
2012 Impairment Charges | |||||||||||||||||
In the fourth quarter of 2012, epay Brazil recorded a goodwill impairment charge of $23.5 million and an additional $5.2 million impairment charge of other acquired intangibles assets, specifically customer relationships. The impairment charges were the cumulative result of a culmination of several factors in Brazil including, but not necessarily limited to, changes in mobile operator distribution strategies, delays in non-mobile product distribution and operating costs. | |||||||||||||||||
The initial factor contributing to the impairment charges was changes in certain mobile operators' distribution strategies throughout 2012. These changes limited our ability to distribute certain mobile operators' products in certain markets and had a negative impact on epay Brazil's 2012 results. While the changes affected the 2012 results, we continued to negotiate alternative arrangements with the mobile operators in order to regain profitability in Brazil. In the fourth quarter of 2012, we determined that these negotiations were not likely to result in arrangements that would restore our profitability from those products in the future. | |||||||||||||||||
While these distribution changes were occurring, the Company was also establishing plans to introduce other electronic payment products in the Brazilian market which was expected to increase profitability. As the plans became more concrete in the fourth quarter of 2012, the Company's assessment was that the added profitability from these new products would likely grow steadily over time, but would not add significant earnings as quickly as originally projected. | |||||||||||||||||
Simultaneously with the changes in the mobile operators' distribution strategies, epay Brazil undertook efforts to align costs with revenues. While significant progress was made in reducing costs during 2012, the extent of that progress was constrained by the investments needed to launch the new electronic payment products. In the fourth quarter of 2012, the revised cost structure, which aligns costs with the decreased mobile revenues and supports the new products, was solidified and resulted in cost savings which were less than initially expected. | |||||||||||||||||
Further, the changes in the mobile operators' distribution strategies accelerated efforts to pursue other distribution channels. In the fourth quarter of 2012, epay Brazil acquired new partners in these other channels which provided insight to the profit potential of these channels. The Company's assessment of the opportunity in these channels was that while these channels are expected to be profitable, they are not likely to have profit margins as great as the ones lost with the changes in mobile operators' distribution strategies previously discussed. | |||||||||||||||||
As described above, the Company had several initiatives to improve profitability which were evolving during the year. The collective impact of those initiatives was the key consideration to determining if the epay Brazil business could return to or exceed its previous profitability. While each initiative had the potential to significantly contribute to that goal, during the fourth quarter of 2012, the Company determined that each initiative was likely to contribute less than what was previously expected. The culmination of these various factors in the fourth quarter of 2012 led the Company to conclude that the resulting valuation was not sufficient to support the recorded value of its investment in epay Brazil and, therefore, it recorded the goodwill and other acquired intangible assets impairment charges in the period. |
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities (Note) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract] | ' | ||||||||
Other Liabilities Disclosure [Text Block] | ' | ||||||||
Accrued Expenses and Other Current Liabilities | |||||||||
The balances as of December 31, 2013 and 2012 were as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Accrued expenses | $ | 84,511 | $ | 69,648 | |||||
Accrued amounts due to mobile operators and other content providers | 78,398 | 64,715 | |||||||
Money transfer settlement obligations | 49,757 | 47,358 | |||||||
Deferred income taxes | 618 | 1,685 | |||||||
Total | $ | 213,284 | $ | 183,406 | |||||
Debt_Obligations_Note
Debt Obligations (Note) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
DEBT OBLIGATIONS | ' | ||||||||
Debt Obligations | |||||||||
Debt obligations consist of the following as of December 31, 2013 and 2012: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Credit Facility: | |||||||||
Term loan, due 2016 | $ | 68,000 | $ | 74,500 | |||||
Revolving credit agreements, due 2016 | 129,010 | 215,117 | |||||||
197,010 | 289,617 | ||||||||
Convertible Debt: | |||||||||
3.50% convertible debentures, unsecured, due 2025 | — | 3,586 | |||||||
Other Obligations | 2,403 | 1,051 | |||||||
Total debt obligations | $ | 199,413 | $ | 294,254 | |||||
Short-term debt obligations and current maturities of long-term debt obligations | $ | (10,903 | ) | $ | (7,551 | ) | |||
Long-term debt obligations | $ | 188,510 | $ | 286,703 | |||||
As of December 31, 2013, aggregate annual maturities of long-term debt are $10.9 million in 2014, $11.5 million in 2015, $177.0 million in 2016 and none thereafter. This maturity schedule reflects the term loan and revolving credit facilities maturing in 2016. | |||||||||
Credit Facility | |||||||||
On August 18, 2011, the Company and certain of its subsidiaries entered into an Amended and Restated Credit Agreement (the "Credit Agreement") with a lending syndicate consisting of nine banks (the "Lenders") with Bank of America, N.A. serving as Administrative Agent and Collateral Agent and U.S. Bank National Association serving as Syndication Agent. Under the Credit Agreement, the Lenders have made available a $355 million senior secured credit facility (the "Credit Facility") consisting of a $265 million five-year revolving credit facility, a $10 million five-year India revolving credit facility and an $80 million five-year term loan which was fully drawn at closing. The revolving credit facility allows for borrowings in U.S. dollars, euro, British pound sterling, Australian dollars and/or Indian rupees. In connection with entering into the Credit Agreement, $1.7 million of previously capitalized finance costs were written off during the year ended December 31, 2011 and included in loss on early retirement of debt in the Consolidated Statement of Income. | |||||||||
The revolving credit facility contains a $200 million sublimit for the issuance of letters of credit and a $25 million sublimit for swingline loans. Subject to certain conditions, the Company has the option to increase the Credit Facility by up to an additional $205 million by requesting additional commitments from existing or new lenders. | |||||||||
On October 11, 2012, the Company exercised this option and increased the aggregate commitments under the revolving credit facility from $275 million to $400 million as described in the Commitment Increase Agreement dated as of October 11, 2012. The Company remains entitled, subject to the arrangement of additional commitments with financial institutions, to increase the aggregate commitments under the senior secured revolving credit facility by an additional $80 million. | |||||||||
Fees and interest on borrowings vary based upon the Company's consolidated total leverage ratio (as defined in the Credit Agreement) and will be based, in the case of letter of credit fees, on a margin, and in the case of interest, on a margin over London Inter-Bank Offered Rate (“LIBOR”) or a margin over the base rate, as selected by the Company, with the applicable margin ranging from 1.5% to 2.5% (or 0.5% to 1.5% for base rate loans). The base rate is the highest of (i) the Bank of America prime rate, (ii) the Federal Funds rate plus 0.50% or (iii) the Fixed LIBOR rate plus 1.00%. The term loan is subject to scheduled quarterly amortization payments, as set forth in the Credit Agreement. The maturity date for the Credit Facility is August 18, 2016, at which time the outstanding principal balance and all accrued interest will be due and payable in full. The weighted average interest rate of the Company's borrowings under the term loan and revolving credit facility was 1.7% as of December 31, 2013, and 2.0% and 2.5% as of December 31, 2012, respectively. Financing costs of $5.6 million have been deferred and are being amortized over the terms of the respective loans. | |||||||||
As of December 31, 2013 and 2012, the Company had stand-by letters of credit/bank guarantees outstanding against the revolving credit facility of $58.7 million and $47.5 million, respectively. Stand-by letters of credit/bank guarantees reduce our borrowing capacity under the revolving credit facility and are generally used to secure trade credit and performance obligations. The Company pays an interest rate for stand-by letters of credit/bank guarantees at a rate that adjusts each quarter based upon the Company's consolidated total leverage ratio. As of December 31, 2013 and 2012, the stand-by letters of credit interest charges were 1.50% and 1.75% per annum, respectively. | |||||||||
The Credit Agreement contains customary affirmative and negative covenants, events of default and financial covenants, including (all as defined in the Credit Agreement): (i) a Consolidated Total Leverage Ratio not to exceed 4.0 to 1.0; (ii) a Consolidated Senior Secured Leverage Ratio not to exceed 3.0 to 1.0; and (iii) a Consolidated Fixed Charge Coverage Ratio of not less than 1.5 to 1.0. Subject to meeting certain leverage ratio and liquidity requirements (as defined in the Credit Agreement), the Company is permitted to pay dividends, repurchase common stock and repurchase subordinated debt. | |||||||||
The Company and certain subsidiaries have guaranteed the repayment of obligations under the Credit Facility and have granted pledges of the shares of certain subsidiaries along with a security interest in certain other personal property collateral of the Company and certain subsidiaries. | |||||||||
Convertible Debentures | |||||||||
On October 4, 2005, the Company completed the sale of $175.0 million of Contingent Convertible Debentures Due 2025 (“Convertible Debentures”). The Convertible Debentures had an interest rate of 3.50% per annum payable semi-annually in April and October, and were convertible into shares of Euronet Common Stock at a conversion price of $40.48 per share if certain conditions are met (relating to the closing prices of Euronet Common Stock exceeding certain thresholds for specified periods). Holders of the Convertible Debentures had the option to require the Company to purchase their debentures at par on October 15, 2012, and had additional options to require the Company to purchase their debentures at par on October 15, 2015 and 2020, or upon a change in control of the Company. In connection with the issuance of the Convertible Debentures, the Company recorded $5.1 million in debt issuance costs, which were amortized through October 15, 2012. | |||||||||
In September 2011, the Company repurchased $3.6 million in principal amount of Convertible Debentures, which resulted in a loss on early retirement of debt of $0.2 million. | |||||||||
In October 2012, holders of the Convertible Debentures exercised their option to require the Company to purchase at par $167.9 million of Convertible Debentures. | |||||||||
In September 2013, the Company repurchased at par the remaining principal amount of Convertible Debentures outstanding. | |||||||||
Contractual interest expense was $0.1 million, $4.8 million and $6.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. The effective interest rate was 8.4% for all periods through October 15, 2012, and 3.5% thereafter. As of December 31, 2011, unamortized discounts were $6.3 million, and were fully amortized through October 15, 2012. Discount accretion expense was $6.3 million and $7.6 million for the years ended December 31, 2012 and 2011, respectively. | |||||||||
Other obligations | |||||||||
Certain of the Company's foreign subsidiaries have available lines of credit and an overdraft credit facility that provides for short-term borrowings that are used from time to time for working capital purposes. As of December 31, 2013 and 2012, borrowings under these arrangements were $2.4 million and $1.1 million, respectively. |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities (Note) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Derivative Instruments and Hedges, Assets [Abstract] | ' | ||||||||||||||||||||||||||
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | ' | ||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities | |||||||||||||||||||||||||||
As of December 31, 2013 and 2012, the Company had foreign currency forward contracts outstanding with a notional value of $127.9 million and $128.2 million, respectively, primarily in Australian dollars, euros, Mexican Pesos and U.S. dollars, which were not designated as hedges and had a weighted average remaining maturity of three days. Although the Company enters into foreign currency contracts to offset foreign currency exposure related to the notional value of money transfer transactions collected in currencies other than the U.S. dollar and, on occasion, short-term loans payable in currencies other than the U.S. Dollar, these contracts are not designated as hedges under ASC Topic 815, Derivatives and Hedging. This is mainly due to the relatively short duration of the contracts, typically 1 to 14 days, and the frequency with which the Company enters into them. Due to the short duration of the contracts and the Company’s credit profile, the Company is generally not required to post collateral with respect to its foreign currency forward contracts. | |||||||||||||||||||||||||||
The required tabular disclosures for derivative instruments are as follows: | |||||||||||||||||||||||||||
Gross Amount of Recognized Assets | Gross Amount of Offset in the Consolidated Balance Sheets | Net Amount of Assets Presented in the Consolidated Balance Sheets | |||||||||||||||||||||||||
(in thousands) | Consolidated Balance | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||
Sheet Location | |||||||||||||||||||||||||||
Foreign currency | Other Current Assets | $ | 96 | $ | 177 | $ | (96 | ) | $ | (142 | ) | $ | — | $ | 35 | ||||||||||||
derivative contracts | |||||||||||||||||||||||||||
Gross Amount of Recognized Liabilities | Gross Amount of Offset in the Consolidated Balance Sheets | Net Amount of Liabilities Presented in the Consolidated Balance Sheets | |||||||||||||||||||||||||
(in thousands) | Consolidated Balance | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||
Sheet Location | |||||||||||||||||||||||||||
Foreign currency | Other Current Liabilities | (178 | ) | (142 | ) | 96 | 142 | $ | (82 | ) | $ | — | |||||||||||||||
derivative contracts | |||||||||||||||||||||||||||
Amount of Loss Recognized | |||||||||||||||||||||||||||
in Income on Derivative | |||||||||||||||||||||||||||
Location of Loss | Year Ended December 31, | ||||||||||||||||||||||||||
Recognized in Income | |||||||||||||||||||||||||||
(in thousands) | on Derivative | 2013 | 2012 | 2011 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815 | |||||||||||||||||||||||||||
Foreign currency derivative contracts | Foreign currency exchange gain (loss), net | $ | (850 | ) | $ | (618 | ) | $ | (23 | ) | |||||||||||||||||
See Note 17, Financial Instruments and Fair Value Measurements, for the determination of the fair values of derivatives. |
Leases_Note
Leases (Note) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Leases of Lessee Disclosure [Text Block] | ' | ||||||||
Leases | |||||||||
Capital leases | |||||||||
The Company leases certain of its ATMs, computer equipment and vehicles under capital lease agreements that expire between the years of 2014 and 2018 and bear interest at rates between 2.2% and 14.4%. The lessors for these leases hold a security interest in the equipment leased under the respective capital lease agreements. Lease installments are paid on a monthly, quarterly or semi-annual basis. Certain leases contain a bargain purchase option at the conclusion of the lease period. | |||||||||
The gross amount of the assets and related accumulated amortization recorded within property and equipment and subject to capital leases as of December 31, 2013 and 2012 were as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
ATMs | $ | 10,427 | $ | 13,101 | |||||
Other | 3,165 | 3,019 | |||||||
Subtotal | 13,592 | 16,120 | |||||||
Less accumulated amortization | (6,591 | ) | (8,030 | ) | |||||
Total | $ | 7,001 | $ | 8,090 | |||||
Non-cash financing and investing activities for the years ended December 31, 2013, 2012 and 2011 represented capital lease obligations of $0.9 million, $3.4 million and $4.6 million, respectively, incurred when the Company entered into leases primarily for new ATMs, to upgrade ATMs or for data center computer equipment. | |||||||||
Operating leases | |||||||||
The Company has non-cancelable operating leases that expire between the years of 2014 and 2023. Certain of these leases contain renewal options and escalation provisions. The Company recognizes rent expense under the straight-line method over the term of the lease. Rent expense for the years ended December 31, 2013, 2012 and 2011 amounted to $54.0 million, $49.0 million and $40.4 million, respectively. | |||||||||
Future minimum lease payments | |||||||||
Future minimum lease payments under the capital leases and the non-cancelable operating leases (with initial lease terms in excess of one year) as of December 31, 2013 are: | |||||||||
(in thousands) | Capital | Operating | |||||||
Leases | Leases | ||||||||
Year ending December 31, | |||||||||
2014 | $ | 2,573 | $ | 39,694 | |||||
2015 | 2,116 | 34,019 | |||||||
2016 | 728 | 28,686 | |||||||
2017 | 252 | 21,226 | |||||||
2018 | 4 | 14,411 | |||||||
Thereafter | — | 12,433 | |||||||
Total minimum lease payments | 5,673 | $ | 150,469 | ||||||
Less amounts representing interest | (440 | ) | |||||||
Present value of net minimum capital lease payments | 5,233 | ||||||||
Less current portion of obligations under capital leases | (2,361 | ) | |||||||
Obligations under capital leases, less current portion | $ | 2,872 | |||||||
Income_Taxes_Note
Income Taxes (Note) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
INCOME TAXES | ' | ||||||||||||
Income Taxes | |||||||||||||
The sources of income (loss) before income taxes for the years ended December 31, 2013, 2012 and 2011 are presented as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income (loss) before taxes: | |||||||||||||
United States | $ | 18,560 | $ | (3,002 | ) | $ | (9,300 | ) | |||||
Foreign | 96,525 | 50,336 | 72,092 | ||||||||||
Total income before income taxes | $ | 115,085 | $ | 47,334 | $ | 62,792 | |||||||
The Company's income tax expense for the years ended December 31, 2013, 2012 and 2011 consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Current tax expense (benefit): | |||||||||||||
U.S. | $ | 2,114 | $ | 6,363 | $ | 1,367 | |||||||
Foreign | 31,791 | 26,579 | 23,679 | ||||||||||
Total current | 33,905 | 32,942 | 25,046 | ||||||||||
Deferred tax expense (benefit): | |||||||||||||
U.S. | (1,470 | ) | 369 | 1,206 | |||||||||
Foreign | (4,703 | ) | (6,374 | ) | (1,548 | ) | |||||||
Total deferred | (6,173 | ) | (6,005 | ) | (342 | ) | |||||||
Total tax expense | $ | 27,732 | $ | 26,937 | $ | 24,704 | |||||||
The following is a reconciliation of the federal statutory income tax rate of 35% to the effective income tax rate for 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
(dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
U.S. federal income tax expense at applicable statutory rate | $ | 40,280 | $ | 16,567 | $ | 21,977 | |||||||
Tax effect of: | |||||||||||||
State income tax expense at statutory rates | 1,756 | 1,514 | 238 | ||||||||||
Non-deductible expenses | 4,926 | 426 | 2,838 | ||||||||||
Share-based compensation | (733 | ) | (89 | ) | (76 | ) | |||||||
Other permanent differences | (1,442 | ) | 1,096 | (1,771 | ) | ||||||||
Difference between U.S. federal and foreign tax rates | (9,519 | ) | (8,407 | ) | (5,140 | ) | |||||||
Provision in excess of statutory rates | 1,180 | (965 | ) | 1,285 | |||||||||
Change in federal and foreign valuation allowance | (9,038 | ) | 6,882 | 5,900 | |||||||||
Impairment of goodwill and acquired intangible assets | 4,460 | 8,149 | — | ||||||||||
Acquisition-related contingent consideration gain | (6,762 | ) | — | — | |||||||||
Other | 2,624 | 1,764 | (547 | ) | |||||||||
Total income tax expense | $ | 27,732 | $ | 26,937 | $ | 24,704 | |||||||
Effective tax rate | 24.1 | % | 56.9 | % | 39.3 | % | |||||||
The tax effect of temporary differences and carryforwards that give rise to deferred tax assets and liabilities from continuing operations are as follows: | |||||||||||||
As of December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Tax loss carryforwards | $ | 27,602 | $ | 28,285 | |||||||||
Share-based compensation | 6,950 | 6,344 | |||||||||||
Accrued expenses | 12,855 | 7,109 | |||||||||||
Property and equipment | 5,764 | 5,221 | |||||||||||
Goodwill and intangible amortization | 37,221 | 37,265 | |||||||||||
Intercompany notes | 7,750 | 9,532 | |||||||||||
Other | 12,338 | 14,945 | |||||||||||
Gross deferred tax assets | 110,480 | 108,701 | |||||||||||
Valuation allowance | (80,995 | ) | (89,863 | ) | |||||||||
Net deferred tax assets | 29,485 | 18,838 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangibles related to purchase accounting | (10,993 | ) | (11,365 | ) | |||||||||
Goodwill and intangible amortization | (7,385 | ) | (4,735 | ) | |||||||||
Accrued expenses | (8,266 | ) | (7,707 | ) | |||||||||
Intercompany notes | (1,129 | ) | (915 | ) | |||||||||
Capitalized research and development | (3,940 | ) | (1,863 | ) | |||||||||
Property and equipment | (2,866 | ) | (2,632 | ) | |||||||||
Other | (4,622 | ) | (5,899 | ) | |||||||||
Total deferred tax liabilities | (39,201 | ) | (35,116 | ) | |||||||||
Net deferred tax liabilities | $ | (9,716 | ) | $ | (16,278 | ) | |||||||
Subsequently recognized tax benefits relating to the valuation allowance for deferred tax assets as of December 31, 2013 are expected to be allocated to income taxes in the Consolidated Statements of Income with the following exception. The tax benefit of net operating losses generated from share-based compensation have been excluded from the amounts disclosed for tax loss carryforwards and valuation allowance to the extent the benefit will be recognized in equity if realized. The excluded tax benefit of $22.8 million will be allocated to additional paid-in capital when utilized to offset taxable income. | |||||||||||||
As of December 31, 2013, and 2012, the Company's U.S. federal and foreign tax loss carryforwards were $155.8 million and $152.1 million, respectively, and U.S. state tax loss carryforwards were $56.4 million and $50.3 million, respectively. | |||||||||||||
In assessing the Company's ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company will only realize the benefits of these deductible differences, net of the existing valuation allowances, at December 31, 2013. | |||||||||||||
At December 31, 2013, the Company had U.S. federal and foreign tax net operating loss carryforwards of $155.8 million, which will expire as follows: | |||||||||||||
(in thousands) | Gross | Tax Effected | |||||||||||
Year ending December 31, | |||||||||||||
2014 | $ | 1,135 | $ | 140 | |||||||||
2015 | 2,931 | 635 | |||||||||||
2016 | 5,317 | 1,200 | |||||||||||
2017 | 3,630 | 709 | |||||||||||
2018 | 3,926 | 641 | |||||||||||
Thereafter | 111,905 | 36,499 | |||||||||||
Unlimited | 26,969 | 5,726 | |||||||||||
Total | $ | 155,813 | $ | 45,550 | |||||||||
In addition, the Company's state tax net operating loss carryforwards of $56.4 million will expire periodically from 2014 through 2033. | |||||||||||||
No provision has been made in the accounts as of December 31, 2013 for U.S. federal and state income taxes which would be payable if the gross undistributed earnings of the foreign subsidiaries were distributed to the Company since management has determined that the earnings are permanently reinvested. Gross undistributed earnings reinvested indefinitely in foreign subsidiaries aggregated $542.3 million as of December 31, 2013. The determination of the amount of unrecognized deferred U.S. income tax liabilities and foreign tax credits, if any, is not practicable to calculate at this time. | |||||||||||||
Accounting for uncertainty in income taxes | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Beginning balance | $ | 11,370 | $ | 12,045 | |||||||||
Additions based on tax positions related to the current year | 5,570 | 1,293 | |||||||||||
Additions for tax positions of prior years | — | 355 | |||||||||||
Reductions for tax positions of prior years | (427 | ) | (1,208 | ) | |||||||||
Settlements | (2,271 | ) | (1,115 | ) | |||||||||
Ending balance | $ | 14,242 | $ | 11,370 | |||||||||
As of December 31, 2013 and 2012, approximately $9.2 million and $5.7 million, respectively, of the unrecognized tax benefits would impact the Company's provision for income taxes and effective income tax rate, if recognized. Total estimated accrued interest and penalties related to the underpayment of income taxes was $2.2 million and $2.4 million as of December 31, 2013 and 2012, respectively. The following income tax years remain open in the Company's major jurisdictions as of December 31, 2013: | |||||||||||||
Jurisdictions | Periods | ||||||||||||
U.S. (Federal) | 2000 through 2002, 2004 through 2006, and 2010 through 2013 | ||||||||||||
Spain | 2005 through 2013 | ||||||||||||
Australia | 2009 through 2013 | ||||||||||||
U.K. | 2008 through 2013 | ||||||||||||
Germany | 2007 through 2013 | ||||||||||||
The application of ASC 740-10-25 and -30 requires significant judgment in assessing the outcome of future income tax examinations and their potential impact on the Company's estimated effective income tax rate and the value of deferred tax assets, such as those related to the Company's net operating loss carryforwards. It is reasonably possible that the balance of gross unrecognized tax benefits could significantly change within the next twelve months as a result of the resolution of audit examinations and expirations of certain statutes of limitations and, accordingly, materially affect our operating results. At this time, it is not possible to estimate the range of change due to the uncertainty of potential outcomes. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts (Note) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||
Valuation and Qualifying Accounts | |||||||||||||
Accounts receivable balances are stated net of allowance for doubtful accounts. Historically, the Company has not experienced significant write-offs. The Company records allowances for doubtful accounts when it is probable that the accounts receivable balance will not be collected. The following table provides a summary of the allowance for doubtful accounts balances and activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Beginning balance-allowance for doubtful accounts | $ | 21,512 | $ | 14,787 | $ | 14,924 | |||||||
Additions-charged to expense | 7,007 | 9,201 | 5,046 | ||||||||||
Amounts written off | (6,068 | ) | (2,889 | ) | (6,058 | ) | |||||||
Other (primarily changes in foreign currency exchange rates) | (372 | ) | 413 | 875 | |||||||||
Ending balance-allowance for doubtful accounts | $ | 22,079 | $ | 21,512 | $ | 14,787 | |||||||
Stock_Plans_Note
Stock Plans (Note) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||
Stock Plans | ||||||||||||||
The Company has share-based compensation plans (“SCP”) that allow it to grant restricted shares, or options to purchase shares, of Common Stock to certain current and prospective key employees, directors and consultants of the Company. These awards generally vest over periods ranging from three to seven years from the date of grant, are generally exercisable during the shorter of a ten-year term or the term of employment with the Company. Certain stock option grants vest over a five-year period, subject to the achievement of pre-determined performance targets. With the exception of certain awards made to the Company's employees in Germany, awards under the SCP are settled through the issuance of new shares under the provisions of the SCP. For Company employees in Germany, certain awards are settled through the issuance of treasury shares, which also reduces the number of shares available for future issuance under the SCP. As of December 31, 2013, the Company has approximately 5.3 million in total shares remaining available for issuance under the SCP. | ||||||||||||||
Share-based compensation expense was $11.5 million, $11.8 million and $10.8 million for the years ended December 31, 2013, 2012 and 2011, respectively, and is recorded in salaries and benefits expense in the accompanying Consolidated Statements of Income. The Company recorded a tax benefit of $0.6 million, $0.7 million and $0.6 million during the years ended December 31, 2013, 2012 and 2011, respectively, for the portion of this expense that relates to foreign tax jurisdictions in which an income tax benefit is expected to be derived. | ||||||||||||||
Stock options | ||||||||||||||
Summary stock options activity is presented in the table below: | ||||||||||||||
Weighted | ||||||||||||||
Weighted | Average | Aggregate | ||||||||||||
Average | Remaining | Intrinsic | ||||||||||||
Number of | Exercise | Contractual | Value | |||||||||||
Shares | Price | Term (years) | (thousands) | |||||||||||
Balance at December 31, 2012 (1,937,245 shares exercisable) | 4,810,816 | $ | 16.73 | |||||||||||
Granted | 317,174 | $ | 45.86 | |||||||||||
Exercised | (894,498 | ) | $ | 15.74 | ||||||||||
Forfeited | (166,081 | ) | $ | 18.14 | ||||||||||
Balance at December 31, 2013 | 4,067,411 | $ | 19.16 | 6.8 | $ | 116,691 | ||||||||
Exercisable at December 31, 2013 | 1,839,633 | $ | 14.02 | 5.7 | $ | 62,239 | ||||||||
Vested and expected to vest at December 31, 2013 | 3,795,264 | $ | 18.68 | 6.7 | $ | 110,710 | ||||||||
Options outstanding that are expected to vest are net of estimated future forfeitures. The Company received cash of $13.6 million, $5.2 million and $2.0 million in connection with stock options exercised in the years ended December 31, 2013, 2012 and 2011, respectively. The intrinsic value of these options exercised was $18.6 million, $7.4 million and $2.0 million in the years ended December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013, unrecognized compensation expense related to nonvested stock options that are expected to vest totaled $14.3 million and will be recognized over the next 5 years, with an overall weighted-average period of 3.5 years. The following table provides the fair value of options granted under the SCP during 2013, 2012 and 2011, together with a description of the assumptions used to calculate the fair value using the Black-Scholes-Merton option-pricing model: | ||||||||||||||
Year ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Volatility | 41.94 | % | 43.9 | % | 45.1 | % | ||||||||
Risk-free interest rate - weighted average | 1.6 | % | 0.8 | % | 1 | % | ||||||||
Risk-free interest rate - range | (a) | 0.81% to 1.03% | 0.99% to 2.33% | |||||||||||
Dividend yield | — | % | — | % | — | % | ||||||||
Assumed forfeitures | 8 | % | 8 | % | 8 | % | ||||||||
Expected lives | 5.4 years | 5.7 years | 5.4 years | |||||||||||
Weighted-average fair value (per share) | $ | 18.43 | $ | 9.46 | $ | 6.85 | ||||||||
(a) At the date of grant, the risk free rate for stock options awarded in 2013 was 1.6%. | ||||||||||||||
Restricted stock | ||||||||||||||
Restricted stock awards vest based on the achievement of time-based service conditions and/or performance-based conditions. For certain awards, vesting is based on the achievement of more than one condition of an award with multiple time-based | ||||||||||||||
and/or performance-based conditions. | ||||||||||||||
Summary restricted stock activity is presented in the table below: | ||||||||||||||
Weighted | ||||||||||||||
Average Grant | ||||||||||||||
Number of | Date Fair | |||||||||||||
Shares | Value Per Share | |||||||||||||
Nonvested at December 31, 2012 | 1,106,129 | $ | 19.73 | |||||||||||
Granted | 155,930 | $ | 43.47 | |||||||||||
Vested | (195,834 | ) | $ | 19.64 | ||||||||||
Forfeited | (137,237 | ) | $ | 20.05 | ||||||||||
Nonvested at December 31, 2013 | 928,988 | $ | 23.69 | |||||||||||
The fair value of shares vested in the years ended December 31, 2013, 2012 and 2011 was $7.3 million, $6.9 million and $5.0 million, respectively. As of December 31, 2013, there was $6.1 million of total unrecognized compensation cost related to unvested time-based restricted stock, which is expected to be recognized over a weighted-average period of 3.6 years. As of December 31, 2013, there was $8.5 million of total unrecognized compensation costs related to unvested performance-based restricted stock, which is expected to be recognized based on Company performance over a weighted-average period of 1.9 years. The weighted average grant date fair value of restricted stock granted during the years ended December 31, 2013, 2012 and 2011 was $43.47, $21.99 and $16.55 per share, respectively. | ||||||||||||||
Employee stock purchase plans | ||||||||||||||
In 2003, the Company established a qualified Employee Stock Purchase Plan (the “ESPP”), which allows qualified employees (as defined by the plan documents) to participate in the purchase of rights to purchase designated shares of the Company's Common Stock at a price equal to the lower of 85% of the closing price at the beginning or end of each quarterly offering period. The Company reserved 1,000,000 shares of Common Stock for purchase under the ESPP. Pursuant to the ESPP, during the years ended December 31, 2013, 2012 and 2011, the Company issued 44,323, 56,189 and 57,018 rights, respectively, to purchase shares of Common Stock at a weighted average price per share of $25.06, $15.42 and $12.77, respectively. The grant date fair value of the option to purchase shares at the lower of the closing price at the beginning or end of the quarterly period, plus the actual total discount provided, are recorded as compensation expense. Total compensation expense recorded was $0.2 million for each of the years ended December 31, 2013, 2012 and 2011. The following table provides the weighted-average fair value of the ESPP stock purchase rights during the years ended December 31, 2013, 2012 and 2011 and the assumptions used to calculate the fair value using the Black-Scholes-Merton option-pricing model: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Volatility - weighted average | 25.6 | % | 29.7 | % | 39.9 | % | ||||||||
Volatility - range | 20.9% to 29.6% | 22.6% to 35.2% | 26.5% to 52.5% | |||||||||||
Risk-free interest rate - weighted average | 0.04 | % | 0.07 | % | 0.06 | % | ||||||||
Risk-free interest rate - range | 0.02% to 0.08% | 0.02% to 0.10% | 0.02% to 0.11% | |||||||||||
Dividend yield | — | % | — | % | — | % | ||||||||
Expected lives | 3 months | 3 months | 3 months | |||||||||||
Weighted-average fair value (per share) | $ | 5.72 | $ | 3.63 | $ | 3.7 | ||||||||
Segment_Information_Note
Segment Information (Note) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||
SEGMENT INFORMATION | ' | ||||||||||||||||||||||||||||
Business Segment Information | |||||||||||||||||||||||||||||
Euronet’s reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting. The Company currently operates in the following three reportable operating segments: | |||||||||||||||||||||||||||||
1) | Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East and Asia Pacific. The Company provides comprehensive electronic payment solutions consisting of ATM cash withdrawal services, ATM network participation, outsourced ATM and POS management solutions, credit and debit card outsourcing, dynamic currency conversion and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems. | ||||||||||||||||||||||||||||
2) | Through the epay Segment, the Company provides distribution, processing and collection services for prepaid mobile airtime and other electronic payment products in Europe, the Middle East, Asia Pacific, the United States and South America. | ||||||||||||||||||||||||||||
3) | Through the Money Transfer Segment, the Company provides global consumer-to-consumer money transfer services through a network of sending agents and Company-owned stores (primarily in North America and Europe), disbursing money transfers through a worldwide correspondent network. The Company also offers customers bill payment services, payment alternatives such as money orders and prepaid debit cards, comprehensive check cashing services, foreign currency exchange services and mobile top-up. | ||||||||||||||||||||||||||||
In addition, the Company accounts for non-operating activity, share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in its administrative division, “Corporate Services, Eliminations and Other.” These services are not directly identifiable with the Company’s reportable operating segments. | |||||||||||||||||||||||||||||
The following tables present the Company’s reportable segment results for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
(in thousands) | EFT | epay | Money | Corporate | Consolidated | ||||||||||||||||||||||||
Processing | Transfer | Services, | |||||||||||||||||||||||||||
Eliminations | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Total revenues | $ | 296,240 | $ | 748,680 | $ | 370,365 | $ | (2,116 | ) | $ | 1,413,169 | ||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Direct operating costs | 141,381 | 575,787 | 177,783 | (2,023 | ) | 892,928 | |||||||||||||||||||||||
Salaries and benefits | 40,150 | 57,251 | 88,222 | 22,621 | 208,244 | ||||||||||||||||||||||||
Selling, general and administrative | 23,141 | 41,000 | 54,870 | 10,416 | 129,427 | ||||||||||||||||||||||||
Acquisition-related contingent consideration gain | (19,319 | ) | — | — | — | (19,319 | ) | ||||||||||||||||||||||
Goodwill and acquired intangible assets impairment | — | 18,425 | — | — | 18,425 | ||||||||||||||||||||||||
Depreciation and amortization | 29,537 | 16,756 | 18,395 | 365 | 65,053 | ||||||||||||||||||||||||
Total operating expenses | 214,890 | 709,219 | 339,270 | 31,379 | 1,294,758 | ||||||||||||||||||||||||
Operating income (expense) | $ | 81,350 | $ | 39,461 | $ | 31,095 | $ | (33,495 | ) | $ | 118,411 | ||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Interest income | 1,998 | ||||||||||||||||||||||||||||
Interest expense | (10,139 | ) | |||||||||||||||||||||||||||
Income from unconsolidated affiliates | 206 | ||||||||||||||||||||||||||||
Other gains, net | 2,398 | ||||||||||||||||||||||||||||
Foreign currency exchange gain, net | 2,211 | ||||||||||||||||||||||||||||
Total other expense, net | (3,326 | ) | |||||||||||||||||||||||||||
Income before income taxes | $ | 115,085 | |||||||||||||||||||||||||||
Segment assets as of December 31, 2013 | $ | 347,073 | $ | 757,942 | $ | 472,390 | $ | 20,710 | $ | 1,598,115 | |||||||||||||||||||
Property and equipment, net as of December 31, 2013 | $ | 64,972 | $ | 27,176 | $ | 23,768 | $ | 314 | $ | 116,230 | |||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
(in thousands) | EFT | epay | Money | Corporate | Consolidated | ||||||||||||||||||||||||
Processing | Transfer | Services, | |||||||||||||||||||||||||||
Eliminations | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Total revenues | $ | 237,948 | $ | 714,125 | $ | 316,135 | $ | (607 | ) | $ | 1,267,601 | ||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Direct operating costs | 114,826 | 548,390 | 149,397 | (554 | ) | 812,059 | |||||||||||||||||||||||
Salaries and benefits | 32,784 | 53,399 | 75,540 | 22,332 | 184,055 | ||||||||||||||||||||||||
Selling, general and administrative | 20,628 | 44,496 | 47,673 | 7,778 | 120,575 | ||||||||||||||||||||||||
Goodwill and acquired intangible assets impairment | — | 28,740 | — | — | 28,740 | ||||||||||||||||||||||||
Depreciation and amortization | 25,302 | 19,599 | 18,902 | 364 | 64,167 | ||||||||||||||||||||||||
Total operating expenses | 193,540 | 694,624 | 291,512 | 29,920 | 1,209,596 | ||||||||||||||||||||||||
Operating income (expense) | $ | 44,408 | $ | 19,501 | $ | 24,623 | $ | (30,527 | ) | $ | 58,005 | ||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Interest income | 3,993 | ||||||||||||||||||||||||||||
Interest expense | (19,653 | ) | |||||||||||||||||||||||||||
Income from unconsolidated affiliates | 942 | ||||||||||||||||||||||||||||
Other gains, net | 4,146 | ||||||||||||||||||||||||||||
Foreign currency exchange loss, net | (99 | ) | |||||||||||||||||||||||||||
Total other expense, net | (10,671 | ) | |||||||||||||||||||||||||||
Income before income taxes | $ | 47,334 | |||||||||||||||||||||||||||
Segment assets as of December 31, 2012 | $ | 231,320 | $ | 840,513 | $ | 455,981 | $ | 23,722 | $ | 1,551,536 | |||||||||||||||||||
Property and equipment, net as of December 31, 2012 | $ | 62,359 | $ | 29,912 | $ | 22,856 | $ | 348 | $ | 115,475 | |||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
(in thousands) | EFT | epay | Money | Corporate | Consolidated | ||||||||||||||||||||||||
Processing | Transfer | Services, | |||||||||||||||||||||||||||
Eliminations | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Total revenues | $ | 199,249 | $ | 677,051 | $ | 285,299 | $ | (295 | ) | $ | 1,161,304 | ||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Direct operating costs | 95,739 | 514,429 | 130,783 | (222 | ) | 740,729 | |||||||||||||||||||||||
Salaries and benefits | 29,487 | 48,386 | 70,603 | 19,998 | 168,474 | ||||||||||||||||||||||||
Selling, general and administrative | 19,798 | 38,711 | 46,441 | 7,557 | 112,507 | ||||||||||||||||||||||||
Depreciation and amortization | 21,017 | 18,751 | 20,346 | 343 | 60,457 | ||||||||||||||||||||||||
Total operating expenses | 166,041 | 620,277 | 268,173 | 27,676 | 1,082,167 | ||||||||||||||||||||||||
Operating income (expense) | $ | 33,208 | $ | 56,774 | $ | 17,126 | $ | (27,971 | ) | $ | 79,137 | ||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Interest income | 5,749 | ||||||||||||||||||||||||||||
Interest expense | (21,385 | ) | |||||||||||||||||||||||||||
Income from unconsolidated affiliates | 1,852 | ||||||||||||||||||||||||||||
Other gains | 1,000 | ||||||||||||||||||||||||||||
Loss on early retirement of debt | (1,899 | ) | |||||||||||||||||||||||||||
Foreign currency exchange loss, net | (1,662 | ) | |||||||||||||||||||||||||||
Total other expense, net | (16,345 | ) | |||||||||||||||||||||||||||
Income before income taxes | $ | 62,792 | |||||||||||||||||||||||||||
Segment assets as of December 31, 2011 | $ | 203,494 | $ | 803,897 | $ | 472,532 | $ | 26,406 | $ | 1,506,329 | |||||||||||||||||||
Property and equipment, net as of December 31, 2011 | $ | 54,169 | $ | 27,303 | $ | 20,990 | $ | 438 | $ | 102,900 | |||||||||||||||||||
Total revenues for the years ended December 31, 2013, 2012 and 2011, and property and equipment and total assets as of December 31, 2013 and 2012, summarized by geographic location, were as follows: | |||||||||||||||||||||||||||||
Revenues | Property and Equipment, net | Total Assets | |||||||||||||||||||||||||||
For the year ended December 31, | as of December 31, | as of December 31, | |||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
United States | $ | 341,964 | $ | 294,122 | $ | 233,903 | $ | 22,556 | $ | 19,255 | $ | 275,040 | $ | 284,748 | |||||||||||||||
Germany | 336,551 | 276,862 | 166,687 | 12,162 | 12,164 | 366,695 | 353,947 | ||||||||||||||||||||||
Australia | 103,571 | 137,054 | 193,557 | 1,709 | 2,130 | 131,037 | 156,352 | ||||||||||||||||||||||
Poland | 103,147 | 89,873 | 81,232 | 41,907 | 39,736 | 96,160 | 79,010 | ||||||||||||||||||||||
United Kingdom | 95,127 | 104,496 | 123,387 | 4,027 | 5,071 | 139,172 | 126,393 | ||||||||||||||||||||||
India | 59,744 | 52,228 | 41,870 | 2,742 | 3,513 | 40,638 | 37,982 | ||||||||||||||||||||||
Spain | 54,804 | 50,047 | 65,188 | 3,167 | 2,154 | 80,196 | 79,909 | ||||||||||||||||||||||
Italy | 54,765 | 50,178 | 53,970 | 1,813 | 1,509 | 92,055 | 80,814 | ||||||||||||||||||||||
Brazil | 44,633 | 47,955 | 58,654 | 1,750 | 3,408 | 27,263 | 41,119 | ||||||||||||||||||||||
Other | 218,863 | 164,786 | 142,856 | 24,397 | 26,535 | 349,859 | 311,262 | ||||||||||||||||||||||
Total foreign | 1,071,205 | 973,479 | 927,401 | 93,674 | 96,220 | 1,323,075 | 1,266,788 | ||||||||||||||||||||||
Total | $ | 1,413,169 | $ | 1,267,601 | $ | 1,161,304 | $ | 116,230 | $ | 115,475 | $ | 1,598,115 | $ | 1,551,536 | |||||||||||||||
Revenues are attributed to countries based on location of the customer, with the exception of software sales made by our software subsidiary, which are attributed to the U.S. |
Fair_Value_Measurements_Note
Fair Value Measurements (Note) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ||||||||||||||
Financial Instruments and Fair Value Measurements | |||||||||||||||
Concentrations of credit risk | |||||||||||||||
The Company's credit risk primarily relates to trade accounts receivable and cash and cash equivalents. The EFT Processing Segment's customer base includes the most significant international card organizations and certain banks in its markets. The epay Segment's customer base is diverse and includes several major retailers and/or distributors in markets that they operate. The Money Transfer Segment trade accounts receivable are primarily due from independent agents that collect cash from customers on the Company's behalf and generally remit the cash within one week. The Company's performs ongoing evaluations of its customers' financial condition and limits the amount of credit extended, or purchases credit enhancement protection, when deemed necessary, but generally requires no collateral. See Note 14, Valuation and Qualifying Accounts, for further disclosure. | |||||||||||||||
The Company invests excess cash not required for use in operations primarily in high credit quality, short-term duration securities that the Company believes bear minimal risk. | |||||||||||||||
Fair value measurements | |||||||||||||||
Fair value measurements used in the consolidated financial statements are based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||||||||||||||
• | Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. | ||||||||||||||
• | Level 2 – Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. | ||||||||||||||
• | Level 3 – Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the inputs that market participants would use in pricing. | ||||||||||||||
The following table details financial assets measured and recorded at fair value on a recurring basis: | |||||||||||||||
As of December 31, 2013 | |||||||||||||||
(in thousands) | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Liabilities | |||||||||||||||
Foreign currency derivative contracts | Other current liabilities | — | (82 | ) | — | $ | (82 | ) | |||||||
As of December 31, 2012 | |||||||||||||||
(in thousands) | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets | |||||||||||||||
Foreign currency derivative contracts | Other current assets | — | 35 | — | $ | 35 | |||||||||
The carrying amounts of cash and cash equivalents, trade accounts receivable, trade accounts payable and short-term debt obligations approximate fair values due to their short maturities. The carrying values of the Company’s term loan due 2016 and revolving credit agreements approximate fair values because interest is based on the London Inter-Bank Offered Rate ("LIBOR") that resets at various intervals of less than one year. The Company estimates the fair value of the convertible debentures using quoted prices in inactive markets for identical liabilities (Level 2). As of December 31, 2012, the fair value and carrying amount of the convertible debentures were $3.6 million. | |||||||||||||||
Contingent Consideration Liability | |||||||||||||||
The contingent consideration liability relating to the Pure Commerce acquisition was recorded at fair value using a Monte Carlo simulation. The significant unobservable inputs used in the fair value measurement of the contingent consideration liability are forecasted financial results, including estimates of future revenues, gross profit, and EBITDA (Level 3). As of the acquisition date, the fair value of the contingent consideration liability was $21.7 million. Changes in any of these inputs could result in a significantly higher or lower fair value measurement. Changes in the fair value of the contingent consideration liability are recorded as income or expense within operating income in our Consolidated Statements of Income. | |||||||||||||||
During 2013, the Company recorded a $2.4 million foreign currency exchange gain related to this contingent consideration liability as a result of fluctuations in the value of the Australian dollar against the U.S. dollar. In third quarter of 2013, the Company adjusted to fair value the contingent consideration liability based on its assessment that the performance targets for gross profit and EBITDA would not be met. As of December 31, 2013 (end of the performance period), the fair value of the contingent consideration liability is zero. The change in fair value resulted in the recognition of a $19.3 million gain. | |||||||||||||||
Although certain elements of Pure Commerce’s business plan changed during the first half of 2013, its management team had specific plans in place to achieve the performance targets. At June 30, 2013, the Company determined that the performance targets were probable of achievement because Pure Commerce’s business can experience significant impacts on results when key customers launch its services and we believed implementation timeframes would be short. However, as the actual results through the second half of 2013 were realized, the Company determined that delays in implementing contracts with certain merchants and merchant acquirers and lower than expected transaction volume on certain contracts would not allow Pure Commerce to meet the minimum threshold necessary to require the Company to pay contingent consideration. This assessment was primarily due to the short one-year timeframe to achieve the performance targets and the targets’ high sensitivity to changes in performance. While these factors contributed to Pure Commerce not achieving the performance targets, they are not expected to adversely affect the fair value of Pure Commerce. | |||||||||||||||
Impairment of goodwill and acquired intangible assets | |||||||||||||||
Certain assets are measured at fair value on a non-recurring basis. In connection with the annual goodwill impairment test during the fourth quarters of 2013 and 2012, the Company assessed the fair value of goodwill and recorded goodwill impairment charges related to certain of its epay reporting units of $18.4 million and $23.5 million, respectively. The fair values were determined using significant unobservable inputs (Level 3). The fair values of goodwill related to impaired reporting units were determined by calculating the implied fair values as the excess of the fair value of the respective entity over the fair value of its net assets. Further, in 2012, the Company recorded an impairment charge of acquired intangible assets of $5.2 million, specifically related to customer relationship assets in Brazil. The acquired intangible asset impairment charge was measured as the amount by which the carrying amount of the asset exceeded the fair value of the asset. No other assets were measured at fair value on a non-recurring basis during 2013, 2012, or 2011. |
Computer_Software_to_be_Sold_N
Computer Software to be Sold (Note) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
COMPUTER SOFTWARE TO BE SOLD [Abstract] | ' | ||||||||||||
Research, Development, and Computer Software Disclosure [Text Block] | ' | ||||||||||||
Computer Software to be Sold | |||||||||||||
Euronet engages in software development activities to continually improve the Company's core software products. The following table provides the detailed activity related to capitalized software development costs for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Beginning balance-capitalized development cost | $ | 5,274 | $ | 3,841 | $ | 3,123 | |||||||
Additions | 4,932 | 3,908 | 2,609 | ||||||||||
Amortization | (3,227 | ) | (2,475 | ) | (1,891 | ) | |||||||
Net capitalized development cost | $ | 6,979 | $ | 5,274 | $ | 3,841 | |||||||
Research and development costs expensed for the years ended December 31, 2013, 2012 and 2011 were $2.4 million, $1.9 million and $1.1 million, respectively. |
Litigation_and_Contingencies_N
Litigation and Contingencies (Note) | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
CONTINGENCIES | ' |
Litigation and Contingencies | |
Contingencies | |
Unclaimed property compliance - In September 2013, the Company entered into a voluntary disclosure agreement (“VDA”) with the Secretary of State of the State of Delaware to determine compliance with Delaware unclaimed property laws. Types of property under examination include, but are not limited to, payroll checks, accounts payable checks and accounts receivable credits for the period 1996 through 2007. The total amount of exposure of this contingency is dependent upon the manner in which the State of Delaware applies its unclaimed property laws. The Company does not expect the outcome of this matter to have a material adverse effect on the consolidated financial statements | |
Computer Security Breach - A unit of the Company's European processing business was the subject of a criminal security breach in late 2011. The affected business represents less than 5% of the Company's revenues, profits and transactions. Euronet took immediate steps to remediate the breach and ensure its impact was contained. | |
Certain claims arising from such breach were asserted against the Company, and it is possible that additional claims may be asserted in the future. However, the Company maintains insurance to cover the financial exposure for response costs, losses by the card issuer and fines or penalties from incidents of this nature. To date, the aggregate amount of expenses incurred and losses asserted against the Company for which the Company ultimately bore liability have been within the limits of our insurance and the only cost to the Company has been its retention amount under its insurance. The Company does not currently expect the net financial impact of expenses or losses from the breach, after insurance recovery, to be material to its consolidated financial statements. | |
Expenses related to the breach were $0.4 million and $0.5 million in 2011 and 2012, respectively. The $0.5 million of expenses incurred in 2012 were net of $1.9 million in amounts recovered from the Company's insurance carrier. No additional related expenses were incurred during 2013, as all losses incurred were covered by insurance. | |
Legal Proceedings | |
During 2012, the Company was served with a class action lawsuit filed by a former employee alleging wage and hour violations relating to meal and rest period requirements. The Company has reached an agreement to settle this lawsuit for an immaterial amount and, together with the plaintiffs in the case, is following court procedures to finalize the settlement. The Company expects such procedures to be completed within the next twelve months. | |
From time to time, the Company is a party to legal and regulatory proceedings arising in the ordinary course of its business. Currently, there are no legal proceedings or regulatory findings that management believes, either individually or in the aggregate, would have a material adverse effect upon the consolidated financial statements of the Company. In accordance with U.S. GAAP, the Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case |
Commitments_Note
Commitments (Note) | 12 Months Ended | |
Dec. 31, 2013 | ||
Guarantees [Abstract] | ' | |
GUARANTEES | ' | |
Commitments | ||
As of December 31, 2013, the Company had $105.4 million of stand-by letters of credit/bank guarantees issued on its behalf, of which $5.0 million are collateralized by cash deposits held by the respective issuing banks. | ||
Under certain circumstances, the Company grants guarantees in support of obligations of subsidiaries. As of December 31, 2013, the Company granted off balance sheet guarantees for cash in various ATM networks amounting to $16.0 million over the terms of the cash supply agreements and performance guarantees amounting to approximately $27.3 million over the terms of the agreements with the customers. | ||
Each of our subsidiaries, once they reach a certain size, is required under the Credit Facility to provide a guarantee of all or a portion of the outstanding obligations under the Credit Facility depending upon whether the subsidiary is a domestic or foreign entity. | ||
From time to time, the Company enters into agreements with unaffiliated parties that contain indemnification provisions, the terms of which may vary depending on the negotiated terms of each respective agreement. The amount of such potential obligations is generally not stated in the agreements. Euronet's liability under such indemnification provisions may be mitigated by relevant insurance coverage and may be subject to time and materiality limitations, monetary caps and other conditions and defenses. Such indemnification obligations include the following: | ||
• | In connection with contracts with financial institutions in the EFT Processing Segment, the Company is responsible for damage to ATMs and theft of ATM network cash that, generally, is not recorded on the Company’s Consolidated Balance Sheets. As of December 31, 2013, the balance of ATM network cash for which the Company was responsible was approximately $480 million. The Company maintains insurance policies to mitigate this exposure; | |
• | In connection with contracts with financial institutions in the EFT Processing Segment, the Company is responsible for losses suffered by its customers and other parties as a result of the breach of its computer systems, including in particular, losses arising from fraudulent transactions made using information stolen through its processing systems. The Company maintains insurance policies to mitigate this exposure; | |
• | In connection with the license of proprietary systems to customers, the Company provides certain warranties and infringement indemnities to the licensee, which generally warrant that such systems do not infringe on intellectual property owned by third parties and that the systems will perform in accordance with their specifications; | |
• | Euronet has entered into purchase and service agreements with vendors and consulting agreements with providers of consulting services, pursuant to which the Company has agreed to indemnify certain of such vendors and consultants, respectively, against third-party claims arising from the Company’s use of the vendor’s product or the services of the vendor or consultant; | |
• | In connection with acquisitions and dispositions of subsidiaries, operating units and business assets, the Company has entered into agreements containing indemnification provisions, which can be generally described as follows: (i) in connection with acquisitions of operating units or assets made by Euronet, the Company has agreed to indemnify the seller against third party claims made against the seller relating to the operating unit or asset and arising after the closing of the transaction, and (ii) in connection with dispositions made by Euronet, Euronet has agreed to indemnify the buyer against damages incurred by the buyer due to the buyer’s reliance on representations and warranties relating to the subject subsidiary, operating unit or business assets in the disposition agreement if such representations or warranties were untrue when made; and | |
• | Euronet has entered into agreements with certain third parties, including banks that provide fiduciary and other services to Euronet or to the Company’s benefit plans. Under such agreements, the Company has agreed to indemnify such service providers for third-party claims relating to carrying out their respective duties under such agreements. | |
The Company is also required to meet minimum capitalization and cash requirements of various regulatory authorities in the jurisdictions in which the Company has money transfer operations. The Company has obtained surety bonds in compliance with money transfer licensing requirements of the applicable governmental authorities. | ||
To date, the Company is not aware of any significant claims made by the indemnified parties or third parties to guarantee agreements with the Company and, accordingly, no liabilities were recorded as of December 31, 2013 or 2012. |
Related_Party_Transactions_Not
Related Party Transactions (Note) | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
Related Party Transactions | |
The Company leases airplanes from companies partially owned by Mr. Michael J. Brown, Euronet's Chief Executive Officer and Chairman of the Board of Directors. The airplanes are leased for business use on a per flight hour basis with no minimum usage requirement. Euronet incurred expenses of $0.3 million in the year ended December 31, 2013 and $0.2 million in each of the years ended December 31, 2012 and 2011, for the use of these airplanes. | |
On November 29, 2012, the Company entered into a stock purchase agreement with West Side Investment Management, Inc., a subsidiary of DST Systems, Inc. (“DST”). Pursuant to the terms of the agreement, the Company purchased from DST 1,884,597 shares outstanding of the Company's Common Stock for $41.0 million. The Company used proceeds available under its revolving credit agreement to complete the purchase. Mr. Thomas A. McDonnell has served as a director of the Company and DST since 1996 and 1972, respectively. Mr. McDonnell recused himself during the negotiations and approval of the agreement. |
Selected_Quarterly_Data_Unaudi
Selected Quarterly Data (Unaudited) (Note) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
SELECTED QUARERLY DATA (UNAUDITED) [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
Selected Quarter Data (Unaudited) | |||||||||||||||||
(in thousands, except per share data) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||
Revenues | $ | 335,644 | $ | 341,543 | $ | 360,580 | $ | 375,402 | |||||||||
Operating income | $ | 19,158 | $ | 27,800 | $ | 55,345 | $ | 16,108 | |||||||||
Net income | $ | 12,060 | $ | 18,165 | $ | 47,974 | $ | 9,154 | |||||||||
Net income attributable to Euronet Worldwide, Inc. | $ | 12,006 | $ | 18,111 | $ | 47,874 | $ | 9,995 | |||||||||
Earnings per common share: | |||||||||||||||||
Basic | $ | 0.24 | $ | 0.36 | $ | 0.96 | $ | 0.2 | |||||||||
Diluted | $ | 0.24 | $ | 0.35 | $ | 0.92 | $ | 0.19 | |||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||
Revenues | $ | 297,622 | $ | 302,377 | $ | 316,356 | $ | 351,246 | |||||||||
Operating income (loss) | $ | 15,842 | $ | 19,854 | $ | 24,195 | $ | (1,886 | ) | ||||||||
Net income (loss) | $ | 13,098 | $ | 5,726 | $ | 14,341 | $ | (12,768 | ) | ||||||||
Net income (loss) attributable to Euronet Worldwide, Inc. | $ | 13,172 | $ | 5,747 | $ | 14,630 | $ | (13,014 | ) | ||||||||
Earnings (loss) per common share: | |||||||||||||||||
Basic | $ | 0.26 | $ | 0.11 | $ | 0.29 | $ | (0.26 | ) | ||||||||
Diluted | $ | 0.26 | $ | 0.11 | $ | 0.28 | $ | (0.26 | ) | ||||||||
Significant_Accounting_Policie
Significant Accounting Policies and Practices (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | |
Foreign currencies | ||
Assets and liabilities denominated in currencies other than the functional currency of a subsidiary are remeasured at rates of exchange on the balance sheet date. Resulting gains and losses on foreign currency transactions are included in the Consolidated Statements of Income. | ||
The financial statements of foreign subsidiaries where the functional currency is not the U.S. dollar are translated to U.S. dollars using (i) exchange rates in effect at period end for assets and liabilities, and (ii) weighted average exchange rates during the period for revenues and expenses. Adjustments resulting from translation of such financial statements are reflected in accumulated other comprehensive income (loss) as a separate component of consolidated equity. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash equivalents | ||
The Company considers all highly liquid investments, with an original maturity of three months or less, and certificates of deposit, which may be withdrawn at any time at the discretion of the Company without penalty, to be cash equivalents. | ||
Inventory, Policy [Policy Text Block] | ' | |
Inventory - PINs and other | ||
Inventory - PINs and other is valued at the lower of cost or market value and primarily represents prepaid personal identification number (“PIN”) inventory for prepaid mobile airtime related to the epay Segment. PIN inventory is generally managed on a specific identification basis that approximates first in, first out for the respective denomination of prepaid mobile airtime sold. Inventory also includes vouchers, merchandise for physical reward fulfillment and other electronic payment products. Additionally, from time to time, Inventory - PINs and other may include POS terminals, mobile phone handsets and ATMs held by the Company for resale. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
Property and equipment | ||
Property and equipment are stated at cost, less accumulated depreciation. Property and equipment acquired in acquisitions have been recorded at estimated fair values as of the acquisition date. | ||
Depreciation is generally calculated using the straight-line method over the estimated useful lives of the respective assets. Depreciation and amortization rates are generally as follows: | ||
ATMs or ATM upgrades | 5 - 7 years | |
Computers and software | 3 - 5 years | |
POS terminals | 2 - 5 years | |
Vehicles and office equipment | 2 - 10 years | |
Leasehold improvements | Over the lesser of the lease term or estimated useful life | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | |
Goodwill and other intangible assets | ||
The Company accounts for goodwill and other intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350, Intangibles - Goodwill and Other. ASC Topic 350 requires that the Company test for impairment on an annual basis and whenever events or circumstances dictate. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. | ||
In September 2011, the FASB issued Accounting Standards Update ("ASU") 2011-08, Intangibles - Goodwill and Other ("Topic 350)": Testing Goodwill for Impairment. The guidance provides an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (more than 50%) that the estimated fair value of a reporting unit is less than its carrying amount. If an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not, the entity is then required to perform the existing two-step quantitative impairment test (described below), otherwise no further analysis is required. An entity also may elect not to perform the qualitative assessment and, instead, proceed directly to the two-step quantitative impairment test. The ultimate outcome of the goodwill impairment review for a reporting unit should be the same whether an entity chooses to perform the qualitative assessment or proceeds directly to the two-step quantitative impairment test. The Company adopted ASU 2011-08 effective January 1, 2012, and as a result, instituted a policy for its annual review of goodwill to perform the qualitative assessment for all reporting units not subjected directly to the two-step quantitative impairment test. | ||
Under the qualitative assessment, various events and circumstances (or factors) that would affect the estimated fair value of a reporting unit are identified (similar to impairment indicators). These factors are then classified by the type of impact they would have on the estimated fair value using positive, neutral, and adverse categories based on current business conditions. Furthermore, the Company considers the results of the most recent two-step quantitative impairment test completed for a reporting unit and compares, among other factors, the weighted average cost of capital ("WACC") between the current and prior years for each reporting unit. | ||
During the 2013 annual goodwill impairment test, the Company performed the qualitative assessment for eleven reporting units and concluded that it was more likely than not that the estimated fair values of eight reporting units were more than their carrying values. As such, no further analysis was required. For the remaining three reporting units, the Company concluded that it was more likely than not that the fair values of the reporting units were less than their carrying values; therefore, the Company proceeded to the two-step quantitative impairment test. | ||
Under the two-step quantitative impairment test, the evaluation of impairment involves comparing the current fair value of each reporting unit to its carrying value, including goodwill. The Company uses weighted results from the discounted cash flow model ("DCF model") and guideline public company method ("Market Approach model") to estimate the current fair value of its reporting units when testing for impairment, as management believes forecasted cash flows and EBITDA are the best indicator of such fair value. A number of significant assumptions and estimates are involved in the application of the DCF model to forecast operating cash flows, including sales volumes and gross margins, tax rates, capital spending, discount rates and working capital changes. Most of these assumptions vary significantly among the reporting units. Significant assumptions in the Market Approach model are projected EBITDA, selected market multiple, and the estimated control premium. | ||
In the event the estimated fair value of a reporting unit is less than the carrying value, additional analysis is required. The additional analysis would compare the carrying amount of the reporting unit's goodwill with the implied fair value of that goodwill. The implied fair value of goodwill is the excess of the fair value of the reporting unit over the fair value amounts assigned to all of the assets and liabilities of that unit as if the reporting unit was acquired in a business combination and the fair value of the reporting unit represented the purchase price. If the carrying value of goodwill exceeds its implied fair value, an impairment loss equal to such excess would be recognized. | ||
During the 2013 annual goodwill impairment test, the Company completed the two-step quantitative impairment test for nine reporting units. As a result, the Company recorded a non-cash goodwill impairment charge of $18.4 million with respect to the epay Australia and epay Spain reporting units. | ||
During the 2012 annual goodwill impairment test, the Company completed the two-step quantitative impairment test for eight reporting units. As a result, the Company recorded a non-cash goodwill impairment charge of $23.5 million with respect to the epay Brazil reporting unit. | ||
Other Intangibles - In accordance with ASC Topic 350, intangible assets with finite lives are amortized over their estimated useful lives. Unless otherwise noted, amortization is calculated using the straight-line method over the estimated useful lives of the assets as follows: | ||
Non-compete agreements | 2 - 5 years | |
Trademarks and trade names | 2 - 20 years | |
Software | 3 - 10 years | |
Customer relationships | 6 - 12 years | |
The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. During 2012, the Company recorded a non-cash impairment charge of $5.2 million with respect to the customer relationships of the epay Brazil business. No impairment of long-lived assets was recorded during 2013. | ||
See Note 8, Goodwill and Acquired Intangible Assets, Net, for additional information regarding the impairment of goodwill and other intangible assets. | ||
Other assets policy [Policy Text Block] | ' | |
Other assets | ||
Other assets include deferred financing costs, investments in unconsolidated affiliates, capitalized software development costs and capitalized payments for new or renewed contracts, contract renewals and customer conversion costs. Deferred financing costs represent expenses incurred to obtain financing that have been deferred and are being amortized over the life of the loan. Euronet capitalizes initial payments for new or renewed contracts to the extent recoverable through future operations, contractual minimums and/or penalties in the case of early termination. The Company's accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated ongoing net future cash flows related to the contract or the termination fees the Company would receive in the event of early termination of the contract by the customer. | ||
The Company accounts for investments in affiliates using the equity method of accounting when it has the ability to exercise significant influence over the affiliate. Equity losses in affiliates are generally recognized until the Company's investment is zero. As of December 31, 2012, investments in affiliates, related to the Company's 40% investment in epay Malaysia was $4.7 million; undistributed earnings in epay Malaysia was $4.6 million. In July 2013, the Company completed the sale of its investment in epay Malaysia for $7.6 million, which resulted in the recognition of a $2.8 million gain. As of December 31, 2013, the Company had no material investments in unconsolidated affiliates. | ||
Software to be Sold, Leased, or Otherwise Marketed, Policy [Policy Text Block] | ' | |
Software capitalization | ||
Computer software to be sold - The Company applies ASC Topic 730, Research and Development, and ASC Topic 985 in recording research and development costs. Research costs related to the discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, or a new process or technique, or in bringing about significant improvement to an existing product or process, are expensed as incurred (also see Note 18, Computer Software to be Sold). Development costs aimed at the translation of research findings or other knowledge into a plan or design for a new product or process, or for a significant improvement to an existing product or process, whether intended for sale or use, are capitalized on a product-by-product basis when technological feasibility is established. Capitalization of computer software costs is discontinued when the computer software product is available to be sold, leased, or otherwise marketed. | ||
Technological feasibility of computer software products is established when the Company has completed all planning, designing, coding, and testing activities that are necessary to establish that the product can be produced to meet its design specifications including functions, features and technical performance requirements. Technological feasibility is evidenced by the existence of a working model of the product or by completion of a detail program design. The detail program design (i) establishes that the necessary skills, hardware, and software technology are available to produce the product, (ii) is complete and consistent with the product design, and (iii) has been reviewed for high-risk development issues, with any uncertainties related to identified high-risk development issues being adequately resolved. | ||
Capitalized software costs are included in other assets and are amortized on a product-by-product basis, equal to the greater of the amount computed using (i) the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product or (ii) the straight-line method over the remaining estimated economic life of the product, generally three years at inception. Amortization commences when the product is available for general release to customers. | ||
Internal Use Software, Policy [Policy Text Block] | ' | |
Software for internal use - The Company also develops software for internal use. These software development costs, as well as costs incurred for significant enhancements and upgrades, are capitalized based upon ASC 350-40. Internal-use software development costs are capitalized after the preliminary project stage is completed and management with the relevant authority authorizes and commits to funding a computer software project and it is probable that the project will be completed and the software will be used to perform the function intended. Costs incurred prior to meeting the qualifications are expensed as incurred. Capitalization ceases when the computer software project is substantially complete and ready for its intended use. Capitalized software for internal use is included in property and equipment. | ||
Debt, Policy [Policy Text Block] | ' | |
Convertible debentures | ||
The Company accounts for its convertible debt instruments that may be settled in cash upon conversion in accordance with ASC Topic 470, Debt, which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company's nonconvertible debt borrowing rate. Further, the Company applies ASC 470-20-35-13, which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense. | ||
Consolidation, Policy [Policy Text Block] | ' | |
Noncontrolling interests | ||
The Company accounts for noncontrolling interests in its consolidated financial statements according to ASC Topic 810, Consolidations, which requires noncontrolling interests to be reported as a component of equity. | ||
Business Combinations Policy [Policy Text Block] | ' | |
Business combinations | ||
The Company accounts for business combinations in accordance with ASC Topic 805, Business Combinations, which requires most identifiable assets, liabilities, noncontrolling interests and goodwill acquired in a business combination to be recorded at “full fair value” at the acquisition date. Additionally, ASC Topic 805 requires transaction-related costs to be expensed in the period incurred. | ||
Income Tax, Policy [Policy Text Block] | ' | |
Income taxes | ||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||
In accordance with ASC Topic 740, Income Taxes, the Company's policy is to record estimated interest and penalties related to the underpayment of income taxes as income tax expense in the Consolidated Statements of Income. See Note 13, Taxes, for further discussion regarding these provisions. | ||
Presentation of taxes collected and remitted to government authorities policy [Policy Text Block] | ' | |
Presentation of taxes collected and remitted to governmental authorities | ||
The Company presents taxes collected and remitted to governmental authorities on a net basis in the accompanying Consolidated Statements of Income. | ||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |
Fair value measurements | ||
The Company applies the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, regarding fair value measurements for assets and liabilities. ASC Topic 820 defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. The provisions apply whenever other accounting pronouncements require or permit fair value measurements. See Note 17, Financial Instruments and Fair Value Measurements, for the required fair value disclosures. | ||
Derivatives, Methods of Accounting, Hedging Derivatives [Policy Text Block] | ' | |
Accounting for derivative instruments and hedging activities | ||
The Company accounts for derivative instruments and hedging activities in accordance with ASC Topic 815, Derivatives and Hedging, which requires that all derivative instruments be recognized as either assets or liabilities on the balance sheet at fair value. Primarily in the Money Transfer Segment, the Company enters into foreign currency derivative contracts, mainly forward contracts, to offset foreign currency exposure related to the notional value of money transfer settlement assets and liabilities in currencies other than the U.S. dollar. These contracts are considered derivative instruments under the provisions of ASC Topic 815; however, the Company does not designate such instruments as hedges for accounting purposes. Accordingly, changes in the value of these contracts are recognized immediately as a component of foreign currency exchange gain (loss), net in the Consolidated Statements of Income. The impact of changes in value of these contracts, together with the impact of the change in value of the related foreign currency denominated settlement asset or liability, on the Company's Consolidated Statements of Income and Consolidated Balance Sheets is not significant. | ||
Cash flows resulting from derivative instruments are included in operating activities in the Company's Consolidated Statements of Cash Flows. The Company enters into derivative instruments with highly credit-worthy financial institutions and does not use derivative instruments for trading or speculative purposes. See Note 11, Derivative Instruments and Hedging Activities, for further discussion of derivative instruments. | ||
Revenue Recognition, Policy [Policy Text Block] | ' | |
Revenue recognition | ||
The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collection is reasonably assured. The majority of the Company's revenues are comprised of monthly recurring management fees and transaction-based fees. A description of the major components of revenue by business segment is as follows: | ||
EFT Processing - Revenues in the EFT Processing Segment are primarily derived from transaction and management fees and foreign currency exchange margin from owned and outsourced ATM, POS and card processing networks and from the sale of EFT software solutions for electronic payment and transaction delivery systems, and fees or margin earned from value added services, including dynamic currency conversion. | ||
Transaction-based fees include charges for cash withdrawals, debit or credit card transactions, balance inquiries, transactions not completed because the relevant card issuer does not give authorization and prepaid mobile airtime recharges. Outsourcing services are generally billed on the basis of a fixed monthly fee per ATM, plus a transaction-based fee. Transaction-based fees are recognized at the time the transactions are processed and outsourcing management fees are recognized ratably over the contract period. | ||
Certain of the Company's non-cancelable customer contracts provide for the receipt of up-front fees from the customer and/or decreasing or increasing fee schedules over the agreement term for substantially the same level of services to be provided by the Company. As prescribed in SEC Staff Accounting Bulletin (“SAB”) 101, “Revenue Recognition in Financial Statements,” as amended by SAB 104, “Revenue Recognition,” the Company recognizes revenue under these contracts based on proportional performance of services over the term of the contract. This generally results in “straight-line” (i.e., consistent value per period) revenue recognition of the contracts' total cash flows, including any up-front payment received from the customer. | ||
Revenues from the sale of EFT software solutions represent software license fees, professional installation and customization fees, ongoing software maintenance fees, hardware sales and transaction fees. The Company recognizes professional service fee revenue in accordance with the provisions of ASC Topic 985, Software and ASC Topic 605, Revenue Recognition. ASC Topic 985 generally requires revenue earned on software arrangements involving multiple elements to be allocated to each element based on the relative fair values of those elements. | ||
Revenues from software licensing agreement contracts are recognized over the professional services portion of the contract term using the percentage-of-completion method, following the guidance in ASC Topic 605, as prescribed by ASC Topic 985. Software maintenance revenue is recognized over the contractual period or as the maintenance-related service is performed. Revenues from the sale of hardware are generally recognized when title passes to the customer. Revenues in excess of billings on software licensing agreements were $0.8 million and $1.1 million as of December 31, 2013 and 2012, respectively, and are recorded in prepaid expenses and other current assets. Billings in excess of revenues on software license agreements were $2.4 million and $2.5 million as of December 31, 2013 and 2012, respectively, and are recorded as deferred revenue until such time the revenue recognition criteria are met. | ||
epay - Revenue generated in the epay Segment is primarily derived from commissions or processing fees associated with distribution and/or processing of prepaid mobile airtime and other electronic payment products. These fees and commissions are received from mobile phone and other telecommunication operators, top-up distributors, other product vendors or distributors or from retailers. In accordance with ASC Topic 605, commissions received are recognized as revenue during the period in which the Company provides the service. The portion of the commission that is paid to retailers is generally recorded as a direct operating cost. However, in circumstances where the Company is not the primary obligor in the distribution of the electronic payment products, those commissions are recorded as a reduction of revenue. In selling certain products, the Company is the primary obligor in the arrangements; accordingly, the gross sales value of the products are recorded as revenue and the purchase cost as direct operating cost. Transactions are processed through a network of POS terminals and direct connections to the electronic payment systems of retailers. Transaction processing fees are recognized at the time the transactions are processed. | ||
Money Transfer - In accordance with ASC Topic 605, revenues for money transfer and other services represent a transaction fee in addition to a margin earned from purchasing currency at wholesale exchange rates and selling the currency to consumers at retail exchange rates. Revenues and the associated direct operating cost are recognized at the time the transaction is processed. The Company has origination and distribution agents in place, which each earn a fee for the respective service. These fees are reflected as direct operating costs. | ||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |
Share-based compensation | ||
The Company follows the provisions of ASC Topic 718, Compensation - Stock Compensation, for equity classified awards, which requires the determination of the fair value of the share-based compensation at the grant date and subsequent recognition of the related expense over the period in which the share-based compensation is earned (“requisite service period”). | ||
The amount of future compensation expense related to awards of nonvested shares or nonvested share units (“restricted stock”) is based on the market price for Euronet Common Stock at the grant date. The grant date is the date at which all key terms and conditions of the grant have been determined and the Company becomes contingently obligated to transfer equity to the employee who renders the requisite service, generally the date at which grants are approved by the Company's Board of Directors or Compensation Committee thereof. Share-based compensation expense for awards with only service conditions is generally recognized as expense on a “straight-line” basis over the requisite service period. For awards that vest based on achieving periodic performance conditions, expense is recognized on a “graded attribution method.” The graded attribution method results in expense recognition on a straight-line basis over the requisite service period for each separately vesting portion of an award. The Company has elected to use the “with and without method” when calculating the income tax benefit associated with its share-based payment arrangements. See Note 15, Stock Plans, for further disclosure. |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||
The following table provides the computation of diluted weighted average number of common shares outstanding: | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Computation of diluted weighted average shares outstanding: | ||||||||||
Basic weighted average shares outstanding | 49,964,819 | 50,529,476 | 50,944,349 | |||||||
Incremental shares from assumed exercise of stock options and vesting of restricted stock | 1,953,484 | 883,034 | 785,164 | |||||||
Incremental shares from assumed conversion of convertible debentures | 64,317 | — | — | |||||||
Diluted weighted average shares outstanding | 51,982,620 | 51,412,510 | 51,729,513 | |||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Acquisitions [Abstract] | ' | ||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||
The following table summarizes the fair values of the acquired net assets at the acquisition date: | |||||||
(dollar amounts in thousands) | Estimated | ||||||
Life | |||||||
Current assets | $ | 4,805 | |||||
Property and equipment | 2 - 8 years | 331 | |||||
Non-compete agreements | 4 years | 755 | |||||
Proprietary software | 10 years | 11,912 | |||||
Customer relationships | 12 years | 18,230 | |||||
Trademarks and trade names | 20 years | 2,382 | |||||
Goodwill | Indefinite | 27,917 | |||||
Other non-current assets | 402 | ||||||
Fair value of assets | 66,734 | ||||||
Current liabilities | (4,783 | ) | |||||
Other non-current liabilities | (3,683 | ) | |||||
Net assets acquired | $ | 58,268 | |||||
The following table summarizes the fair values of the acquired net assets at the respective acquisition dates: | |||||||
(dollar amounts in thousands) | Estimated | ||||||
Life | |||||||
Current assets | $ | 9,504 | |||||
Property and equipment | 2 - 5 years | 1,098 | |||||
Non-compete agreements | 2 - 4 years | 588 | |||||
Trademarks and trade names | 4 years | 372 | |||||
Customer relationships | 8 years | 9,896 | |||||
Goodwill | Indefinite | 12,812 | |||||
Other non-current assets | 71 | ||||||
Fair value of assets | 34,341 | ||||||
Current liabilities | (2,150 | ) | |||||
Net assets acquired | $ | 32,191 | |||||
The following table summarizes the fair values of the acquired net assets at the respective acquisition dates: | |||||||
(dollar amounts in thousands) | Estimated | ||||||
Life | |||||||
Current assets | $ | 28,292 | |||||
Property and equipment | 3 - 13 years | 6,938 | |||||
Software | 3 years | 390 | |||||
Customer relationships | 8 - 12 years | 26,104 | |||||
Trademarks and trade names | 10 - 20 years | 2,122 | |||||
Goodwill | Indefinite | 56,855 | |||||
Other non-current assets | 63 | ||||||
Fair value of assets | 120,764 | ||||||
Current liabilities | (28,118 | ) | |||||
Deferred income tax liability | (7,267 | ) | |||||
Other non-current liabilities | (3,759 | ) | |||||
Net assets acquired | $ | 81,620 | |||||
Restricted_Cash_Tables
Restricted Cash (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
RESTRICTED CASH [Abstract] | ' | ||||||||
Schedule of Restricted Cash and Cash Equivalents [Table Text Block] | ' | ||||||||
The restricted cash balances as of December 31, 2013 and 2012 were as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Cash held in trust and/or cash held on behalf of others | $ | 71,003 | $ | 55,162 | |||||
Collateral on bank credit arrangements and other | 6,984 | 16,446 | |||||||
Total | $ | 77,987 | $ | 71,608 | |||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
PROPERTY AND EQUIPMENT, NET [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
The components of property and equipment, net of accumulated depreciation and amortization as of December 31, 2013 and 2012 are as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
ATMs | $ | 132,315 | $ | 119,238 | |||||
POS terminals | 49,427 | 49,118 | |||||||
Vehicles and office equipment | 48,829 | 47,221 | |||||||
Computers and software | 116,289 | 106,541 | |||||||
Land and buildings | 697 | 639 | |||||||
347,557 | 322,757 | ||||||||
Less accumulated depreciation and amortization | (231,327 | ) | (207,282 | ) | |||||
Total | $ | 116,230 | $ | 115,475 | |||||
Goodwill_and_Acquired_Intangib1
Goodwill and Acquired Intangible Assets, Net (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill and Acquired Intangible Assets Net [Abstract] | ' | ||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||
The following table summarizes intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||
(in thousands) | Gross Carrying | Accumulated | Gross Carrying | Accumulated | |||||||||||||
Amount | Amortization | Amount | Amortization | ||||||||||||||
Customer relationships | $ | 162,585 | $ | (109,964 | ) | $ | 172,280 | $ | (120,117 | ) | |||||||
Trademarks and trade names | 46,129 | (15,806 | ) | 44,226 | (13,742 | ) | |||||||||||
Software | 15,514 | (6,276 | ) | 5,914 | (5,645 | ) | |||||||||||
Non-compete agreements | 1,725 | (881 | ) | 1,798 | (1,325 | ) | |||||||||||
Total | $ | 225,953 | $ | (132,927 | ) | $ | 224,218 | $ | (140,829 | ) | |||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the goodwill and amortizable intangible assets activity for the years ended December 31, 2012 and 2013: | |||||||||||||||||
(in thousands) | Acquired | Goodwill | Total | ||||||||||||||
Intangible | Intangible | ||||||||||||||||
Assets | Assets | ||||||||||||||||
Balance as of January 1, 2012 | $ | 99,878 | $ | 488,628 | $ | 588,506 | |||||||||||
Increases (decreases): | |||||||||||||||||
2012 acquisitions | 10,856 | 12,812 | 23,668 | ||||||||||||||
Impairment | (5,235 | ) | (23,505 | ) | (28,740 | ) | |||||||||||
Amortization | (22,129 | ) | — | (22,129 | ) | ||||||||||||
Other (primarily changes in foreign currency exchange rates) | 19 | 3,825 | 3,844 | ||||||||||||||
Balance as of December 31, 2012 | 83,389 | 481,760 | 565,149 | ||||||||||||||
Increases (decreases): | |||||||||||||||||
2013 acquisitions | 33,279 | 27,917 | 61,196 | ||||||||||||||
Impairment | — | (18,425 | ) | (18,425 | ) | ||||||||||||
Amortization | (21,116 | ) | — | (21,116 | ) | ||||||||||||
Other (primarily changes in foreign currency exchange rates) | (2,526 | ) | 7,183 | 4,657 | |||||||||||||
Balance as of December 31, 2013 | $ | 93,026 | $ | 498,435 | $ | 591,461 | |||||||||||
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract] | ' | ||||||||
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block] | ' | ||||||||
The balances as of December 31, 2013 and 2012 were as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Accrued expenses | $ | 84,511 | $ | 69,648 | |||||
Accrued amounts due to mobile operators and other content providers | 78,398 | 64,715 | |||||||
Money transfer settlement obligations | 49,757 | 47,358 | |||||||
Deferred income taxes | 618 | 1,685 | |||||||
Total | $ | 213,284 | $ | 183,406 | |||||
Debt_Obligations_Tables
Debt Obligations (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
Debt obligations consist of the following as of December 31, 2013 and 2012: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Credit Facility: | |||||||||
Term loan, due 2016 | $ | 68,000 | $ | 74,500 | |||||
Revolving credit agreements, due 2016 | 129,010 | 215,117 | |||||||
197,010 | 289,617 | ||||||||
Convertible Debt: | |||||||||
3.50% convertible debentures, unsecured, due 2025 | — | 3,586 | |||||||
Other Obligations | 2,403 | 1,051 | |||||||
Total debt obligations | $ | 199,413 | $ | 294,254 | |||||
Short-term debt obligations and current maturities of long-term debt obligations | $ | (10,903 | ) | $ | (7,551 | ) | |||
Long-term debt obligations | $ | 188,510 | $ | 286,703 | |||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | ||||||||||||||||||||||||||
The required tabular disclosures for derivative instruments are as follows: | |||||||||||||||||||||||||||
Gross Amount of Recognized Assets | Gross Amount of Offset in the Consolidated Balance Sheets | Net Amount of Assets Presented in the Consolidated Balance Sheets | |||||||||||||||||||||||||
(in thousands) | Consolidated Balance | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||
Sheet Location | |||||||||||||||||||||||||||
Foreign currency | Other Current Assets | $ | 96 | $ | 177 | $ | (96 | ) | $ | (142 | ) | $ | — | $ | 35 | ||||||||||||
derivative contracts | |||||||||||||||||||||||||||
Gross Amount of Recognized Liabilities | Gross Amount of Offset in the Consolidated Balance Sheets | Net Amount of Liabilities Presented in the Consolidated Balance Sheets | |||||||||||||||||||||||||
(in thousands) | Consolidated Balance | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | 31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||
Sheet Location | |||||||||||||||||||||||||||
Foreign currency | Other Current Liabilities | (178 | ) | (142 | ) | 96 | 142 | $ | (82 | ) | $ | — | |||||||||||||||
derivative contracts | |||||||||||||||||||||||||||
Amount of Loss Recognized | |||||||||||||||||||||||||||
in Income on Derivative | |||||||||||||||||||||||||||
Location of Loss | Year Ended December 31, | ||||||||||||||||||||||||||
Recognized in Income | |||||||||||||||||||||||||||
(in thousands) | on Derivative | 2013 | 2012 | 2011 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC Topic 815 | |||||||||||||||||||||||||||
Foreign currency derivative contracts | Foreign currency exchange gain (loss), net | $ | (850 | ) | $ | (618 | ) | $ | (23 | ) |
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Schedule of Capital Leased Asssets [Table Text Block] | ' | ||||||||
The gross amount of the assets and related accumulated amortization recorded within property and equipment and subject to capital leases as of December 31, 2013 and 2012 were as follows: | |||||||||
As of December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
ATMs | $ | 10,427 | $ | 13,101 | |||||
Other | 3,165 | 3,019 | |||||||
Subtotal | 13,592 | 16,120 | |||||||
Less accumulated amortization | (6,591 | ) | (8,030 | ) | |||||
Total | $ | 7,001 | $ | 8,090 | |||||
Future minimum lease payments for operating and capital leases [Table Text Block] | ' | ||||||||
Future minimum lease payments under the capital leases and the non-cancelable operating leases (with initial lease terms in excess of one year) as of December 31, 2013 are: | |||||||||
(in thousands) | Capital | Operating | |||||||
Leases | Leases | ||||||||
Year ending December 31, | |||||||||
2014 | $ | 2,573 | $ | 39,694 | |||||
2015 | 2,116 | 34,019 | |||||||
2016 | 728 | 28,686 | |||||||
2017 | 252 | 21,226 | |||||||
2018 | 4 | 14,411 | |||||||
Thereafter | — | 12,433 | |||||||
Total minimum lease payments | 5,673 | $ | 150,469 | ||||||
Less amounts representing interest | (440 | ) | |||||||
Present value of net minimum capital lease payments | 5,233 | ||||||||
Less current portion of obligations under capital leases | (2,361 | ) | |||||||
Obligations under capital leases, less current portion | $ | 2,872 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||||
The sources of income (loss) before income taxes for the years ended December 31, 2013, 2012 and 2011 are presented as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Income (loss) before taxes: | |||||||||||||
United States | $ | 18,560 | $ | (3,002 | ) | $ | (9,300 | ) | |||||
Foreign | 96,525 | 50,336 | 72,092 | ||||||||||
Total income before income taxes | $ | 115,085 | $ | 47,334 | $ | 62,792 | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
The Company's income tax expense for the years ended December 31, 2013, 2012 and 2011 consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Current tax expense (benefit): | |||||||||||||
U.S. | $ | 2,114 | $ | 6,363 | $ | 1,367 | |||||||
Foreign | 31,791 | 26,579 | 23,679 | ||||||||||
Total current | 33,905 | 32,942 | 25,046 | ||||||||||
Deferred tax expense (benefit): | |||||||||||||
U.S. | (1,470 | ) | 369 | 1,206 | |||||||||
Foreign | (4,703 | ) | (6,374 | ) | (1,548 | ) | |||||||
Total deferred | (6,173 | ) | (6,005 | ) | (342 | ) | |||||||
Total tax expense | $ | 27,732 | $ | 26,937 | $ | 24,704 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
The following is a reconciliation of the federal statutory income tax rate of 35% to the effective income tax rate for 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
(dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
U.S. federal income tax expense at applicable statutory rate | $ | 40,280 | $ | 16,567 | $ | 21,977 | |||||||
Tax effect of: | |||||||||||||
State income tax expense at statutory rates | 1,756 | 1,514 | 238 | ||||||||||
Non-deductible expenses | 4,926 | 426 | 2,838 | ||||||||||
Share-based compensation | (733 | ) | (89 | ) | (76 | ) | |||||||
Other permanent differences | (1,442 | ) | 1,096 | (1,771 | ) | ||||||||
Difference between U.S. federal and foreign tax rates | (9,519 | ) | (8,407 | ) | (5,140 | ) | |||||||
Provision in excess of statutory rates | 1,180 | (965 | ) | 1,285 | |||||||||
Change in federal and foreign valuation allowance | (9,038 | ) | 6,882 | 5,900 | |||||||||
Impairment of goodwill and acquired intangible assets | 4,460 | 8,149 | — | ||||||||||
Acquisition-related contingent consideration gain | (6,762 | ) | — | — | |||||||||
Other | 2,624 | 1,764 | (547 | ) | |||||||||
Total income tax expense | $ | 27,732 | $ | 26,937 | $ | 24,704 | |||||||
Effective tax rate | 24.1 | % | 56.9 | % | 39.3 | % | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
The tax effect of temporary differences and carryforwards that give rise to deferred tax assets and liabilities from continuing operations are as follows: | |||||||||||||
As of December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Tax loss carryforwards | $ | 27,602 | $ | 28,285 | |||||||||
Share-based compensation | 6,950 | 6,344 | |||||||||||
Accrued expenses | 12,855 | 7,109 | |||||||||||
Property and equipment | 5,764 | 5,221 | |||||||||||
Goodwill and intangible amortization | 37,221 | 37,265 | |||||||||||
Intercompany notes | 7,750 | 9,532 | |||||||||||
Other | 12,338 | 14,945 | |||||||||||
Gross deferred tax assets | 110,480 | 108,701 | |||||||||||
Valuation allowance | (80,995 | ) | (89,863 | ) | |||||||||
Net deferred tax assets | 29,485 | 18,838 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangibles related to purchase accounting | (10,993 | ) | (11,365 | ) | |||||||||
Goodwill and intangible amortization | (7,385 | ) | (4,735 | ) | |||||||||
Accrued expenses | (8,266 | ) | (7,707 | ) | |||||||||
Intercompany notes | (1,129 | ) | (915 | ) | |||||||||
Capitalized research and development | (3,940 | ) | (1,863 | ) | |||||||||
Property and equipment | (2,866 | ) | (2,632 | ) | |||||||||
Other | (4,622 | ) | (5,899 | ) | |||||||||
Total deferred tax liabilities | (39,201 | ) | (35,116 | ) | |||||||||
Net deferred tax liabilities | $ | (9,716 | ) | $ | (16,278 | ) | |||||||
Summary of Operating Loss Carryforwards [Table Text Block] | ' | ||||||||||||
At December 31, 2013, the Company had U.S. federal and foreign tax net operating loss carryforwards of $155.8 million, which will expire as follows: | |||||||||||||
(in thousands) | Gross | Tax Effected | |||||||||||
Year ending December 31, | |||||||||||||
2014 | $ | 1,135 | $ | 140 | |||||||||
2015 | 2,931 | 635 | |||||||||||
2016 | 5,317 | 1,200 | |||||||||||
2017 | 3,630 | 709 | |||||||||||
2018 | 3,926 | 641 | |||||||||||
Thereafter | 111,905 | 36,499 | |||||||||||
Unlimited | 26,969 | 5,726 | |||||||||||
Total | $ | 155,813 | $ | 45,550 | |||||||||
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Beginning balance | $ | 11,370 | $ | 12,045 | |||||||||
Additions based on tax positions related to the current year | 5,570 | 1,293 | |||||||||||
Additions for tax positions of prior years | — | 355 | |||||||||||
Reductions for tax positions of prior years | (427 | ) | (1,208 | ) | |||||||||
Settlements | (2,271 | ) | (1,115 | ) | |||||||||
Ending balance | $ | 14,242 | $ | 11,370 | |||||||||
Summary of Income Tax Examinations [Table Text Block] | ' | ||||||||||||
Jurisdictions | Periods | ||||||||||||
U.S. (Federal) | 2000 through 2002, 2004 through 2006, and 2010 through 2013 | ||||||||||||
Spain | 2005 through 2013 | ||||||||||||
Australia | 2009 through 2013 | ||||||||||||
U.K. | 2008 through 2013 | ||||||||||||
Germany | 2007 through 2013 |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Table Text Block] | ' | ||||||||||||
The following table provides a summary of the allowance for doubtful accounts balances and activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Beginning balance-allowance for doubtful accounts | $ | 21,512 | $ | 14,787 | $ | 14,924 | |||||||
Additions-charged to expense | 7,007 | 9,201 | 5,046 | ||||||||||
Amounts written off | (6,068 | ) | (2,889 | ) | (6,058 | ) | |||||||
Other (primarily changes in foreign currency exchange rates) | (372 | ) | 413 | 875 | |||||||||
Ending balance-allowance for doubtful accounts | $ | 22,079 | $ | 21,512 | $ | 14,787 | |||||||
Stock_Plans_Tables
Stock Plans (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | |||||||||||||
Summary stock options activity is presented in the table below: | ||||||||||||||
Weighted | ||||||||||||||
Weighted | Average | Aggregate | ||||||||||||
Average | Remaining | Intrinsic | ||||||||||||
Number of | Exercise | Contractual | Value | |||||||||||
Shares | Price | Term (years) | (thousands) | |||||||||||
Balance at December 31, 2012 (1,937,245 shares exercisable) | 4,810,816 | $ | 16.73 | |||||||||||
Granted | 317,174 | $ | 45.86 | |||||||||||
Exercised | (894,498 | ) | $ | 15.74 | ||||||||||
Forfeited | (166,081 | ) | $ | 18.14 | ||||||||||
Balance at December 31, 2013 | 4,067,411 | $ | 19.16 | 6.8 | $ | 116,691 | ||||||||
Exercisable at December 31, 2013 | 1,839,633 | $ | 14.02 | 5.7 | $ | 62,239 | ||||||||
Vested and expected to vest at December 31, 2013 | 3,795,264 | $ | 18.68 | 6.7 | $ | 110,710 | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||
The following table provides the fair value of options granted under the SCP during 2013, 2012 and 2011, together with a description of the assumptions used to calculate the fair value using the Black-Scholes-Merton option-pricing model: | ||||||||||||||
Year ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Volatility | 41.94 | % | 43.9 | % | 45.1 | % | ||||||||
Risk-free interest rate - weighted average | 1.6 | % | 0.8 | % | 1 | % | ||||||||
Risk-free interest rate - range | (a) | 0.81% to 1.03% | 0.99% to 2.33% | |||||||||||
Dividend yield | — | % | — | % | — | % | ||||||||
Assumed forfeitures | 8 | % | 8 | % | 8 | % | ||||||||
Expected lives | 5.4 years | 5.7 years | 5.4 years | |||||||||||
Weighted-average fair value (per share) | $ | 18.43 | $ | 9.46 | $ | 6.85 | ||||||||
(a) At the date of grant, the risk free rate for stock options awarded in 2013 was 1.6%. | ||||||||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | |||||||||||||
Summary restricted stock activity is presented in the table below: | ||||||||||||||
Weighted | ||||||||||||||
Average Grant | ||||||||||||||
Number of | Date Fair | |||||||||||||
Shares | Value Per Share | |||||||||||||
Nonvested at December 31, 2012 | 1,106,129 | $ | 19.73 | |||||||||||
Granted | 155,930 | $ | 43.47 | |||||||||||
Vested | (195,834 | ) | $ | 19.64 | ||||||||||
Forfeited | (137,237 | ) | $ | 20.05 | ||||||||||
Nonvested at December 31, 2013 | 928,988 | $ | 23.69 | |||||||||||
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | ' | |||||||||||||
The following table provides the weighted-average fair value of the ESPP stock purchase rights during the years ended December 31, 2013, 2012 and 2011 and the assumptions used to calculate the fair value using the Black-Scholes-Merton option-pricing model: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Volatility - weighted average | 25.6 | % | 29.7 | % | 39.9 | % | ||||||||
Volatility - range | 20.9% to 29.6% | 22.6% to 35.2% | 26.5% to 52.5% | |||||||||||
Risk-free interest rate - weighted average | 0.04 | % | 0.07 | % | 0.06 | % | ||||||||
Risk-free interest rate - range | 0.02% to 0.08% | 0.02% to 0.10% | 0.02% to 0.11% | |||||||||||
Dividend yield | — | % | — | % | — | % | ||||||||
Expected lives | 3 months | 3 months | 3 months | |||||||||||
Weighted-average fair value (per share) | $ | 5.72 | $ | 3.63 | $ | 3.7 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present the Company’s reportable segment results for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
(in thousands) | EFT | epay | Money | Corporate | Consolidated | ||||||||||||||||||||||||
Processing | Transfer | Services, | |||||||||||||||||||||||||||
Eliminations | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Total revenues | $ | 296,240 | $ | 748,680 | $ | 370,365 | $ | (2,116 | ) | $ | 1,413,169 | ||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Direct operating costs | 141,381 | 575,787 | 177,783 | (2,023 | ) | 892,928 | |||||||||||||||||||||||
Salaries and benefits | 40,150 | 57,251 | 88,222 | 22,621 | 208,244 | ||||||||||||||||||||||||
Selling, general and administrative | 23,141 | 41,000 | 54,870 | 10,416 | 129,427 | ||||||||||||||||||||||||
Acquisition-related contingent consideration gain | (19,319 | ) | — | — | — | (19,319 | ) | ||||||||||||||||||||||
Goodwill and acquired intangible assets impairment | — | 18,425 | — | — | 18,425 | ||||||||||||||||||||||||
Depreciation and amortization | 29,537 | 16,756 | 18,395 | 365 | 65,053 | ||||||||||||||||||||||||
Total operating expenses | 214,890 | 709,219 | 339,270 | 31,379 | 1,294,758 | ||||||||||||||||||||||||
Operating income (expense) | $ | 81,350 | $ | 39,461 | $ | 31,095 | $ | (33,495 | ) | $ | 118,411 | ||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Interest income | 1,998 | ||||||||||||||||||||||||||||
Interest expense | (10,139 | ) | |||||||||||||||||||||||||||
Income from unconsolidated affiliates | 206 | ||||||||||||||||||||||||||||
Other gains, net | 2,398 | ||||||||||||||||||||||||||||
Foreign currency exchange gain, net | 2,211 | ||||||||||||||||||||||||||||
Total other expense, net | (3,326 | ) | |||||||||||||||||||||||||||
Income before income taxes | $ | 115,085 | |||||||||||||||||||||||||||
Segment assets as of December 31, 2013 | $ | 347,073 | $ | 757,942 | $ | 472,390 | $ | 20,710 | $ | 1,598,115 | |||||||||||||||||||
Property and equipment, net as of December 31, 2013 | $ | 64,972 | $ | 27,176 | $ | 23,768 | $ | 314 | $ | 116,230 | |||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
(in thousands) | EFT | epay | Money | Corporate | Consolidated | ||||||||||||||||||||||||
Processing | Transfer | Services, | |||||||||||||||||||||||||||
Eliminations | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Total revenues | $ | 237,948 | $ | 714,125 | $ | 316,135 | $ | (607 | ) | $ | 1,267,601 | ||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Direct operating costs | 114,826 | 548,390 | 149,397 | (554 | ) | 812,059 | |||||||||||||||||||||||
Salaries and benefits | 32,784 | 53,399 | 75,540 | 22,332 | 184,055 | ||||||||||||||||||||||||
Selling, general and administrative | 20,628 | 44,496 | 47,673 | 7,778 | 120,575 | ||||||||||||||||||||||||
Goodwill and acquired intangible assets impairment | — | 28,740 | — | — | 28,740 | ||||||||||||||||||||||||
Depreciation and amortization | 25,302 | 19,599 | 18,902 | 364 | 64,167 | ||||||||||||||||||||||||
Total operating expenses | 193,540 | 694,624 | 291,512 | 29,920 | 1,209,596 | ||||||||||||||||||||||||
Operating income (expense) | $ | 44,408 | $ | 19,501 | $ | 24,623 | $ | (30,527 | ) | $ | 58,005 | ||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Interest income | 3,993 | ||||||||||||||||||||||||||||
Interest expense | (19,653 | ) | |||||||||||||||||||||||||||
Income from unconsolidated affiliates | 942 | ||||||||||||||||||||||||||||
Other gains, net | 4,146 | ||||||||||||||||||||||||||||
Foreign currency exchange loss, net | (99 | ) | |||||||||||||||||||||||||||
Total other expense, net | (10,671 | ) | |||||||||||||||||||||||||||
Income before income taxes | $ | 47,334 | |||||||||||||||||||||||||||
Segment assets as of December 31, 2012 | $ | 231,320 | $ | 840,513 | $ | 455,981 | $ | 23,722 | $ | 1,551,536 | |||||||||||||||||||
Property and equipment, net as of December 31, 2012 | $ | 62,359 | $ | 29,912 | $ | 22,856 | $ | 348 | $ | 115,475 | |||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||||||
(in thousands) | EFT | epay | Money | Corporate | Consolidated | ||||||||||||||||||||||||
Processing | Transfer | Services, | |||||||||||||||||||||||||||
Eliminations | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||
Total revenues | $ | 199,249 | $ | 677,051 | $ | 285,299 | $ | (295 | ) | $ | 1,161,304 | ||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Direct operating costs | 95,739 | 514,429 | 130,783 | (222 | ) | 740,729 | |||||||||||||||||||||||
Salaries and benefits | 29,487 | 48,386 | 70,603 | 19,998 | 168,474 | ||||||||||||||||||||||||
Selling, general and administrative | 19,798 | 38,711 | 46,441 | 7,557 | 112,507 | ||||||||||||||||||||||||
Depreciation and amortization | 21,017 | 18,751 | 20,346 | 343 | 60,457 | ||||||||||||||||||||||||
Total operating expenses | 166,041 | 620,277 | 268,173 | 27,676 | 1,082,167 | ||||||||||||||||||||||||
Operating income (expense) | $ | 33,208 | $ | 56,774 | $ | 17,126 | $ | (27,971 | ) | $ | 79,137 | ||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Interest income | 5,749 | ||||||||||||||||||||||||||||
Interest expense | (21,385 | ) | |||||||||||||||||||||||||||
Income from unconsolidated affiliates | 1,852 | ||||||||||||||||||||||||||||
Other gains | 1,000 | ||||||||||||||||||||||||||||
Loss on early retirement of debt | (1,899 | ) | |||||||||||||||||||||||||||
Foreign currency exchange loss, net | (1,662 | ) | |||||||||||||||||||||||||||
Total other expense, net | (16,345 | ) | |||||||||||||||||||||||||||
Income before income taxes | $ | 62,792 | |||||||||||||||||||||||||||
Segment assets as of December 31, 2011 | $ | 203,494 | $ | 803,897 | $ | 472,532 | $ | 26,406 | $ | 1,506,329 | |||||||||||||||||||
Property and equipment, net as of December 31, 2011 | $ | 54,169 | $ | 27,303 | $ | 20,990 | $ | 438 | $ | 102,900 | |||||||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | ||||||||||||||||||||||||||||
Total revenues for the years ended December 31, 2013, 2012 and 2011, and property and equipment and total assets as of December 31, 2013 and 2012, summarized by geographic location, were as follows: | |||||||||||||||||||||||||||||
Revenues | Property and Equipment, net | Total Assets | |||||||||||||||||||||||||||
For the year ended December 31, | as of December 31, | as of December 31, | |||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
United States | $ | 341,964 | $ | 294,122 | $ | 233,903 | $ | 22,556 | $ | 19,255 | $ | 275,040 | $ | 284,748 | |||||||||||||||
Germany | 336,551 | 276,862 | 166,687 | 12,162 | 12,164 | 366,695 | 353,947 | ||||||||||||||||||||||
Australia | 103,571 | 137,054 | 193,557 | 1,709 | 2,130 | 131,037 | 156,352 | ||||||||||||||||||||||
Poland | 103,147 | 89,873 | 81,232 | 41,907 | 39,736 | 96,160 | 79,010 | ||||||||||||||||||||||
United Kingdom | 95,127 | 104,496 | 123,387 | 4,027 | 5,071 | 139,172 | 126,393 | ||||||||||||||||||||||
India | 59,744 | 52,228 | 41,870 | 2,742 | 3,513 | 40,638 | 37,982 | ||||||||||||||||||||||
Spain | 54,804 | 50,047 | 65,188 | 3,167 | 2,154 | 80,196 | 79,909 | ||||||||||||||||||||||
Italy | 54,765 | 50,178 | 53,970 | 1,813 | 1,509 | 92,055 | 80,814 | ||||||||||||||||||||||
Brazil | 44,633 | 47,955 | 58,654 | 1,750 | 3,408 | 27,263 | 41,119 | ||||||||||||||||||||||
Other | 218,863 | 164,786 | 142,856 | 24,397 | 26,535 | 349,859 | 311,262 | ||||||||||||||||||||||
Total foreign | 1,071,205 | 973,479 | 927,401 | 93,674 | 96,220 | 1,323,075 | 1,266,788 | ||||||||||||||||||||||
Total | $ | 1,413,169 | $ | 1,267,601 | $ | 1,161,304 | $ | 116,230 | $ | 115,475 | $ | 1,598,115 | $ | 1,551,536 | |||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||
The following table details financial assets measured and recorded at fair value on a recurring basis: | |||||||||||||||
As of December 31, 2013 | |||||||||||||||
(in thousands) | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Liabilities | |||||||||||||||
Foreign currency derivative contracts | Other current liabilities | — | (82 | ) | — | $ | (82 | ) | |||||||
As of December 31, 2012 | |||||||||||||||
(in thousands) | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets | |||||||||||||||
Foreign currency derivative contracts | Other current assets | — | 35 | — | $ | 35 | |||||||||
Computer_Software_to_be_Sold_T
Computer Software to be Sold (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
COMPUTER SOFTWARE TO BE SOLD [Abstract] | ' | ||||||||||||
Schedule of Capitalized Software Development Costs [Table Text Block] | ' | ||||||||||||
The following table provides the detailed activity related to capitalized software development costs for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Beginning balance-capitalized development cost | $ | 5,274 | $ | 3,841 | $ | 3,123 | |||||||
Additions | 4,932 | 3,908 | 2,609 | ||||||||||
Amortization | (3,227 | ) | (2,475 | ) | (1,891 | ) | |||||||
Net capitalized development cost | $ | 6,979 | $ | 5,274 | $ | 3,841 | |||||||
Selected_Quarterly_Data_Unaudi1
Selected Quarterly Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Selected Quarterly Data [Abstract] | ' | ||||||||||||||||
Summary Of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
(in thousands, except per share data) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||
Revenues | $ | 335,644 | $ | 341,543 | $ | 360,580 | $ | 375,402 | |||||||||
Operating income | $ | 19,158 | $ | 27,800 | $ | 55,345 | $ | 16,108 | |||||||||
Net income | $ | 12,060 | $ | 18,165 | $ | 47,974 | $ | 9,154 | |||||||||
Net income attributable to Euronet Worldwide, Inc. | $ | 12,006 | $ | 18,111 | $ | 47,874 | $ | 9,995 | |||||||||
Earnings per common share: | |||||||||||||||||
Basic | $ | 0.24 | $ | 0.36 | $ | 0.96 | $ | 0.2 | |||||||||
Diluted | $ | 0.24 | $ | 0.35 | $ | 0.92 | $ | 0.19 | |||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||
Revenues | $ | 297,622 | $ | 302,377 | $ | 316,356 | $ | 351,246 | |||||||||
Operating income (loss) | $ | 15,842 | $ | 19,854 | $ | 24,195 | $ | (1,886 | ) | ||||||||
Net income (loss) | $ | 13,098 | $ | 5,726 | $ | 14,341 | $ | (12,768 | ) | ||||||||
Net income (loss) attributable to Euronet Worldwide, Inc. | $ | 13,172 | $ | 5,747 | $ | 14,630 | $ | (13,014 | ) | ||||||||
Earnings (loss) per common share: | |||||||||||||||||
Basic | $ | 0.26 | $ | 0.11 | $ | 0.29 | $ | (0.26 | ) | ||||||||
Diluted | $ | 0.26 | $ | 0.11 | $ | 0.28 | $ | (0.26 | ) | ||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies and Practices Property and equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ATMs [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '5 years |
Minimum [Member] | Computers and software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '3 years |
Minimum [Member] | POS Terminals [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '2 years |
Minimum [Member] | Vehicles and Office Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '2 years |
Maximum [Member] | ATMs [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '7 years |
Maximum [Member] | Computers and software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '5 years |
Maximum [Member] | POS Terminals [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '5 years |
Maximum [Member] | Vehicles and Office Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life, Minimum | '10 years |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies and Practices Intangible assets (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | Noncompete Agreements [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '2 years |
Minimum [Member] | Trademarks and Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '2 years |
Minimum [Member] | Computer Software, Intangible Asset [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '3 years |
Minimum [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '6 years |
Maximum [Member] | Noncompete Agreements [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '5 years |
Maximum [Member] | Trademarks and Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '20 years |
Maximum [Member] | Computer Software, Intangible Asset [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '10 years |
Maximum [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | '12 years |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies and Practices Goodwill and aquired intangible asset impairment (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Goodwill, Impairment Loss | $18,425 | $23,505 |
Impairment of Intangible Assets, Finite-lived | 0 | -5,235 |
epay Brazil [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Impairment Loss | ' | 23,505 |
epay Brazil [Member] | Customer Relationships [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Impairment of Intangible Assets, Finite-lived | ' | $5,235 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies and Practices Equity method investments (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Proceeds from sale of equity method investment | $7,609 | $0 | $0 |
epay Malaysia [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Equity method investments | ' | 4,700 | ' |
Equity Method Investment, Realized Gain (Loss) on Disposal | 2,827 | ' | ' |
Retained earnings, undistributed earnings from equity method investees | ' | 4,600 | ' |
Proceeds from sale of equity method investment | $7,609 | ' | ' |
Equity method investment, ownership percentage | ' | 40.00% | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies and Practices Revenue (Details) (Software License Arrangement [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Software License Arrangement [Member] | ' | ' |
Software Arrangements [Line Items] | ' | ' |
Unbilled receivables | $800,000 | $1,100,000 |
Deferred revenue | $2,400,000 | $2,500,000 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Repayments of Convertible Debt | ($3,586,000) | ($167,900,000) | ($3,600,000) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 758,000 | 10,947,000 | -26,714,000 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $300,000 | ' | ' |
Stockholders_Equity_Computatio
Stockholders' Equity Computation of diluted weighted average shares outstanding (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Weighted average shares outstanding - basic | 49,964,819 | 50,529,476 | 50,944,349 |
Weighted average number diluted shares outstanding adjustment | 1,953,484 | 883,034 | 785,164 |
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 64,317 | 0 | 0 |
Weighted average shares outstanding - diluted | 51,982,620 | 51,412,510 | 51,729,513 |
Antidilutive securities excluded from computation of earnings per share, amount | 438,000 | 3,679,000 | 1,956,000 |
Stockholders_Equity_Share_Repu
Stockholders' Equity Share Repurchases (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
2011 Share Repurchase Plan [Member] | 2011 Share Repurchase Plan [Member] | 2013 Share Repurchase Plan [Member] [Member] | |||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | 1,984,240 | 1,022,159 | ' |
Treasury Stock, Value, Acquired, Cost Method | $42,853,000 | $15,996,000 | $42,853,000 | $15,996,000 | ' |
Treasury Stock Acquired, Average Cost Per Share | ' | ' | $21.60 | $15.65 | ' |
Stock Repurchase Program, Authorized Amount | ' | ' | ' | $100,000,000 | $100,000,000 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | 5,000,000 | 5,000,000 |
Stockholders_Equity_Preferred_
Stockholders' Equity Preferred Stock (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred Stock [Abstract] | ' | ' |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Stockholders_Equity_Preferred_1
Stockholders' Equity Preferred Stock Purchase Rights (Details) (Series A Junior Participating Preferred Stock [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Series A Junior Participating Preferred Stock [Member] | ' |
Class of Warrant or Right [Line Items] | ' |
Number of rights attached to each share of common stock | 1 |
Number of days following public announcement that the rights to become exercisable (in number of days | '10 days |
Beneficial ownership by a person or group of affiliated persons before rights become exercisable (as a percent) | 20.00% |
Number of days following the commencement of a tender offer or exchange offer that the rights to become exercisable (in number of days) | '10 days |
Fraction of newly issued share of Series A Junior Participating Preferred Stock that could be purchased for each Right | 0.01 |
Series A Junior Participating Preferred Stock, Purchase Price | $125 |
Acquisitions_Details
Acquisitions (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 04, 2013 | Dec. 31, 2012 | Jan. 19, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Nov. 12, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 04, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 04, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 04, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Jan. 04, 2013 | Dec. 31, 2011 | Sep. 16, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 04, 2013 | |
Pure Commerce Pty Ltd [Member] | Pure Commerce Pty Ltd [Member] | Euronet Middle East W.L.L. [Member] | Euronet Middle East W.L.L. [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | ezi-pay Limited [Member] | ezi-pay Limited [Member] | Smart PayNetwork SA [Member] | cash4you [Member] | Canadian Check Cashing Company [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trade Names [Member] | Trade Names [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Computer Software, Intangible Asset [Member] | Computer Software, Intangible Asset [Member] | Software Development [Member] | cadooz [Member] | cadooz [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Australia, Dollars | ||||
Pure Commerce Pty Ltd [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Pure Commerce Pty Ltd [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Pure Commerce Pty Ltd [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Computer Software, Intangible Asset [Member] | Pure Commerce Pty Ltd [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Computer Software, Intangible Asset [Member] | Pure Commerce Pty Ltd [Member] | |||||||||||||||||
Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | ' | ' | ' | ' | $4,805,000 | ' | ' | $9,504,000 | $28,292,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Deferred Income Taxes, Asset (Liability), Net | ' | ' | ' | ' | ' | ' | ' | ' | -7,267,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | 31,300,000 | ' | 6,400,000 | ' | ' | ' | 19,700,000 | ' | 18,300,000 | 5,300,000 | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | ' | ' | ' | ' | 4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, step acquisition, equity interest in acquiree, percentage | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition-related contingent consideration gain | -19,319,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Escrow Deposit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '2 years | '3 years | ' | ' | ' | ' | ' | ' | ' | '8 years | '5 years | '13 years | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years | ' | '8 years | ' | ' | '4 years | '20 years | ' | ' | '4 years | ' | '2 years | '10 years | '3 years | ' | ' | ' | ' | ' | ' | '6 years | '8 years | '2 years | '10 years | '2 years | '2 years | '3 years | ' | ' | ' | '12 years | '12 years | '20 years | '20 years | '5 years | '4 years | '10 years | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | 5,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | 224,425 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 |
Business Combination, Contingent Consideration, Liability | ' | ' | ' | 0 | -21,725,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | ' | ' | ' | 331,000 | ' | ' | 1,098,000 | 6,938,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | ' | ' | ' | ' | ' | ' | ' | 588,000 | ' | ' | ' | ' | ' | ' | ' | 18,230,000 | 9,896,000 | 26,104,000 | 2,382,000 | ' | ' | 372,000 | 2,122,000 | ' | 755,000 | ' | ' | 390,000 | 11,912,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | ' | ' | ' | ' | 27,917,000 | ' | ' | 12,812,000 | 56,855,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | ' | ' | ' | ' | 402,000 | ' | ' | 71,000 | 63,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | 66,734,000 | ' | ' | 34,341,000 | 120,764,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | ' | ' | ' | ' | 4,783,000 | ' | ' | -2,150,000 | -28,118,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | ' | ' | ' | ' | 3,683,000 | ' | ' | ' | -3,759,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | ' | $58,268,000 | ' | ' | $32,191,000 | $81,620,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted_Cash_Details
Restricted Cash (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted Cash and Cash Equivalents, Current | $77,987 | $71,608 |
Cash held in trust or on behalf of others [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted Cash and Cash Equivalents, Current | 71,003 | 55,162 |
Collateral on bank credit arrangements and other [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Restricted Cash and Cash Equivalents, Current | $6,984 | $16,446 |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Gross | $347,557,000 | $322,757,000 | ' |
Property and equipment, accumulated depreciation | -231,327,000 | -207,282,000 | ' |
Property and Equipment, net | 116,230,000 | 115,475,000 | 102,900,000 |
Depreciation, Depletion and Amortization | 39,700,000 | 38,700,000 | 35,400,000 |
ATMs [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Gross | 132,315,000 | 119,238,000 | ' |
POS Terminals [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Gross | 49,427,000 | 49,118,000 | ' |
Vehicles and Office Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Gross | 48,829,000 | 47,221,000 | ' |
Computers and software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Gross | 116,289,000 | 106,541,000 | ' |
Land and buildings [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Gross | $697,000 | $639,000 | ' |
Goodwill_and_Acquired_Intangib2
Goodwill and Acquired Intangible Assets, Net (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Customer Relationships, Gross | $162,585,000 | $172,280,000 | ' |
Finite lived trademarks and trade names | 46,129,000 | 44,226,000 | ' |
Finite-Lived Computer Software, Gross | 15,514,000 | 5,914,000 | ' |
Finite-Lived Noncompete Agreements, Gross | 1,725,000 | 1,798,000 | ' |
Finite-Lived Intangible Assets, Gross | 225,953,000 | 224,218,000 | ' |
Acquired intangible assets, accumulated amortization | -132,927,000 | -140,829,000 | ' |
Future Amortization Expense, Year One | 18,200,000 | ' | ' |
Future Amortization Expense, Year Two | 12,900,000 | ' | ' |
Future Amortization Expense, Year Three | 11,300,000 | ' | ' |
Future Amortization Expense, Year Four | 9,500,000 | ' | ' |
Future Amortization Expense, Year Five | 7,100,000 | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Finite-Lived Intangible Assets, Net | 93,026,000 | 83,389,000 | 99,878,000 |
Finite-lived intangible assets acquired during period | 33,279,000 | 10,856,000 | ' |
Impairment of Intangible Assets, Finite-lived | 0 | -5,235,000 | ' |
Finite-Lived Intangible Assets, Amortization Expense | 21,116,000 | 22,129,000 | 22,201,000 |
Finite-lived intangible assets, other changes | -2,526,000 | 19,000 | ' |
Goodwill | 498,435,000 | 481,760,000 | 488,628,000 |
Goodwill, Acquired During Period | 27,917,000 | 12,812,000 | ' |
Goodwill, Impairment Loss | -18,425,000 | -23,505,000 | ' |
Goodwill, Other Changes | 7,183,000 | 3,825,000 | ' |
Total intangible assets, net, including goodwill | 591,461,000 | 565,149,000 | 588,506,000 |
Total intangible assets acquired during period | 61,196,000 | 23,668,000 | ' |
Goodwill and acquired intangible assets impairment | -18,425,000 | -28,740,000 | 0 |
Total intangible assets amortization expense | -21,116,000 | -22,129,000 | ' |
Total intangible assets, other changes | 4,657,000 | 3,844,000 | ' |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Acquired intangible assets, accumulated amortization | -109,964,000 | -120,117,000 | ' |
Trademarks and Trade Names [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Acquired intangible assets, accumulated amortization | -15,806,000 | -13,742,000 | ' |
Computer Software, Intangible Asset [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Acquired intangible assets, accumulated amortization | -6,276,000 | -5,645,000 | ' |
Noncompete Agreements [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Acquired intangible assets, accumulated amortization | -881,000 | -1,325,000 | ' |
epay Brazil [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Goodwill, Impairment Loss | ' | -23,505,000 | ' |
epay Brazil [Member] | Customer Relationships [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Impairment of Intangible Assets, Finite-lived | ' | 5,235,000 | ' |
epay Australia [Member] [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Goodwill, Impairment Loss | -12,300,000 | ' | ' |
epay Spain [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Goodwill, Impairment Loss | -6,100,000 | ' | ' |
Money Transfer Segment [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Goodwill | 246,300,000 | ' | ' |
Goodwill and acquired intangible assets impairment | 0 | 0 | ' |
Epay Segment [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Goodwill | 187,700,000 | ' | ' |
Goodwill and acquired intangible assets impairment | -18,425,000 | -28,740,000 | ' |
Eft Processing Segment [Member] | ' | ' | ' |
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward] | ' | ' | ' |
Goodwill | 64,500,000 | ' | ' |
Goodwill and acquired intangible assets impairment | $0 | $0 | ' |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract] | ' | ' |
Accrued expenses, current | $84,511 | $69,648 |
Accrued amounts due to mobile operators and other content providers | 78,398 | 64,715 |
Money transfer settlement obligations | 49,757 | 47,358 |
Deferred tax liabilities, current | 618 | 1,685 |
Accrued expenses and other current liabilities | $213,284 | $183,406 |
Debt_Obligations_Details
Debt Obligations (Details) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | 15 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 18, 2011 | Oct. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Oct. 04, 2005 | Aug. 18, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 18, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 11, 2012 | Aug. 18, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
3.5% Issue [Member] | 3.5% Issue [Member] | 3.5% Issue [Member] | 3.5% Issue [Member] | 3.5% Issue [Member] | 3.5% Issue [Member] | Term Loan [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of credit - India [Member] | Convertible Debt [Member] | Credit facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Maximum [Member] | Letter of Credit [Member] | Swingline loans [Member] | LIBOR [Member] | LIBOR [Member] | Base rate [Member] | Base rate [Member] | |||||
Line of Credit [Member] | Line of Credit [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan, Due 2016 | $68,000,000 | $74,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | $80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving Credit Agreements, due 2016 | 129,010,000 | 215,117,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, Amount Outstanding | 197,010,000 | 289,617,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt | 0 | 3,586,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Obligations | 2,403,000 | 1,051,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Debt Obligations | 199,413,000 | 294,254,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Current Maturities | -10,903,000 | -7,551,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Excluding Current Maturities | 188,510,000 | 286,703,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 10,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 11,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 177,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | 355,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | 265,000,000 | ' | ' | 200,000,000 | 25,000,000 | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity, Pre-modification | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 275,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Credit Facility Option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,000,000 | 205,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Weighted Average Interest Rate | 1.70% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | 1.70% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.50% | 0.50% | 1.50% |
Debt Instrument, Interest Rate Terms | 'The base rate is the highest of (i) the Bank of America prime rate, (ii) the Federal Funds rate plus 0.50% or (iii) the Fixed LIBOR rate plus 1.00%. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit, interest rate at period end | 1.50% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | 105,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,700,000 | 47,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $40.48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Convertible Debt | 3,586,000 | 167,900,000 | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Debt Discount (Premium) | ' | ' | ' | ' | ' | ' | 6,300,000 | 7,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on early retirement of debt | 0 | 0 | -1,899,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Total Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' |
Consolidated Senior Secured Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' |
Consolidated Fixed Charge Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' |
Deferred Finance Costs, Noncurrent, Gross | 5,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Effective Interest Rate | ' | ' | ' | ' | 8.40% | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Interest Expense | ' | ' | ' | ' | ' | $100,000 | $4,800,000 | $6,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities Derivative Financial Information (Details) (USD $) | 0 Months Ended | ||||
In Millions, unless otherwise specified | Jan. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Minimum [Member] | Maximum [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | $127.90 | $128.20 | ' | ' |
Foreign currency forward contract term | ' | ' | ' | '1 | '14 |
Derivative, Average Remaining Maturity | '3 days | ' | ' | ' | ' |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities Fair Value (Details) (Foreign Exchange Contract [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Foreign Exchange Contract [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | $96,000 | $177,000 |
Derivative Assets, Fair Value Of Derivative Assets Offset Against Liabilities | -96,000 | -142,000 |
Derivative Asset | 0 | 35,000 |
Derivative Liability, Fair Value, Gross Liability | -178,000 | -142,000 |
Derivative Liabilities, Fair Value Of Derivative Liabilities Offset Against Derivative Assets | 96,000 | 142,000 |
Derivative Liability | ($82,000) | $0 |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities (Details) (Foreign Currency Gain (Loss) [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Foreign Currency Gain (Loss) [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ($850) | ($618) | ($23) |
Leases_Details
Leases (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Leased Assets [Line Items] | ' | ' | ' |
Capital Leased Assets, Gross | $13,592,000 | $16,120,000 | ' |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | -6,591,000 | -8,030,000 | ' |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Other Property, Plant, and Equipment, Net | 7,001,000 | 8,090,000 | ' |
Capital Lease Obligations Incurred | 900,000 | 3,400,000 | 4,600,000 |
Operating Leases, Rent Expense | 54,000,000 | 49,000,000 | 40,400,000 |
Capital Leases, Future Minimum Payments Due, Current | 2,573,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Two Years | 2,116,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Three Years | 728,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Four Years | 252,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Five Years | 4,000 | ' | ' |
Capital Leases, Future Minimum Payments Due Thereafter | 0 | ' | ' |
Capital Leases, Future Minimum Payments Due | 5,673,000 | ' | ' |
Capital Leases, Future Minimum Payments, Interest Included in Payments | -440,000 | ' | ' |
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments | 5,233,000 | ' | ' |
Capital Lease Obligations, Current | -2,361,000 | -2,397,000 | ' |
Capital Lease Obligations, Noncurrent | 2,872,000 | 4,589,000 | ' |
Operating Leases, Future Minimum Payments Due, Current | 39,694,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 34,019,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 28,686,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 21,226,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 14,411,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 12,433,000 | ' | ' |
Operating Leases, Future Minimum Payments Due | 150,469,000 | ' | ' |
ATMs [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Capital Leased Assets, Gross | 10,427,000 | 13,101,000 | ' |
Other leased assets [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Capital Leased Assets, Gross | $3,165,000 | $3,019,000 | ' |
Minimum [Member] | Capital Lease Obligations [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Lease Expiration Date | 1-Jan-14 | ' | ' |
Maximum [Member] | Capital Lease Obligations [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Lease Expiration Date | 31-Dec-18 | ' | ' |
Capital Lease Obligations [Member] | Minimum [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | ' | ' |
Capital Lease Obligations [Member] | Maximum [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 14.40% | ' | ' |
Property Subject to Operating Lease [Member] | Minimum [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Lease Expiration Date | 1-Jan-14 | ' | ' |
Property Subject to Operating Lease [Member] | Maximum [Member] | ' | ' | ' |
Leased Assets [Line Items] | ' | ' | ' |
Lease Expiration Date | 31-Dec-23 | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Abstract] | ' | ' | ' |
Income before income taxes | $115,085,000 | $47,334,000 | $62,792,000 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Current Income Tax Expense (Benefit) | 33,905,000 | 32,942,000 | 25,046,000 |
Deferred Income Tax Expense (Benefit) | -6,173,000 | -6,005,000 | -342,000 |
Income tax expense | 27,732,000 | 26,937,000 | 24,704,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Income Tax Expense, Income Tax Reconciliation [Abstract] | ' | ' | ' |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | 40,280,000 | 16,567,000 | 21,977,000 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | 1,756,000 | 1,514,000 | 238,000 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other | 4,926,000 | 426,000 | 2,838,000 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost | -733,000 | -89,000 | -76,000 |
Effective Income tax reconciliation, other permanent differences | -1,442,000 | 1,096,000 | -1,771,000 |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential | -9,519,000 | -8,407,000 | -5,140,000 |
Effective Income Tax Reconciliation, Tax Contingencies, Foreign | 1,180,000 | -965,000 | 1,285,000 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance | -9,038,000 | 6,882,000 | 5,900,000 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses | 4,460,000 | 8,149,000 | 0 |
Effective Income Tax Rate Reconciliation, Contingent Gain | -6,762,000 | 0 | 0 |
Effective Income Tax Rate Reconciliation, Other Adjustments | 2,624,000 | 1,764,000 | -547,000 |
Effective Income Tax Rate, Continuing Operations | 24.10% | 56.90% | 39.30% |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | 27,602,000 | 28,285,000 | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 6,950,000 | 6,344,000 | ' |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 12,855,000 | 7,109,000 | ' |
Deferred tax assets, property, plant and equipment | 5,764,000 | 5,221,000 | ' |
Deferred tax assets, goodwill and intangible assets | 37,221,000 | 37,265,000 | ' |
Deferred tax assets, intercompany notes | 7,750,000 | 9,532,000 | ' |
Deferred Tax Assets, Other | 12,338,000 | 14,945,000 | ' |
Deferred Tax Assets, Gross | 110,480,000 | 108,701,000 | ' |
Deferred Tax Assets, Valuation Allowance | -80,995,000 | -89,863,000 | ' |
Deferred Tax Assets, Net | 29,485,000 | 18,838,000 | ' |
Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets | -10,993,000 | -11,365,000 | ' |
Deferred Tax Liabilities, Goodwill and Intangible Assets, Goodwill | -7,385,000 | -4,735,000 | ' |
Deferred tax liabilities, accrued expenses | -8,266,000 | -7,707,000 | ' |
Deferred tax liabilities, intercompany notes | -1,129,000 | -915,000 | ' |
Deferred Tax Liabilities, Deferred Expense, Capitalized Research and Development Costs | -3,940,000 | -1,863,000 | ' |
Deferred Tax Liabilities, Property, Plant and Equipment | -2,866,000 | -2,632,000 | ' |
Deferred Tax Liabilities, Other | -4,622,000 | -5,899,000 | ' |
Deferred Tax Liabilities | -39,201,000 | -35,116,000 | ' |
Deferred Tax Assets (Liabilities), Net | -9,716,000 | -16,278,000 | ' |
Excluded tax benefit of share-based compensation net operating losses | 22,800,000 | ' | ' |
Undistributed earnings of foreign subsidiaries indefinitely reinvested | 542,300,000 | ' | ' |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Unrecognized Tax Benefits Period Start | 11,370,000 | 12,045,000 | ' |
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | 5,570,000 | 1,293,000 | ' |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 0 | 355,000 | ' |
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions | -427,000 | -1,208,000 | ' |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | -2,271,000 | -1,115,000 | ' |
Unrecognized Tax Benefits Period End | 14,242,000 | 11,370,000 | 12,045,000 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 9,200,000 | 5,700,000 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,200,000 | 2,400,000 | ' |
UNITED STATES | ' | ' | ' |
Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Abstract] | ' | ' | ' |
Income (Loss) before Income Taxes, United States | 18,560,000 | -3,002,000 | -9,300,000 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Current Income Tax Expense (Benefit) | 2,114,000 | 6,363,000 | 1,367,000 |
Deferred Income Tax Expense (Benefit) | -1,470,000 | 369,000 | 1,206,000 |
Other Credit Derivatives [Member] | ' | ' | ' |
Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Abstract] | ' | ' | ' |
Income before Income Taxes, Foreign | 96,525,000 | 50,336,000 | 72,092,000 |
Foreign Tax Authority [Member] | ' | ' | ' |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Current Income Tax Expense (Benefit) | 31,791,000 | 26,579,000 | 23,679,000 |
Deferred Income Tax Expense (Benefit) | -4,703,000 | -6,374,000 | -1,548,000 |
US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 155,813,000 | 152,100,000 | ' |
Operating Loss Carryforward, Tax Effected | 45,550,000 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 56,400,000 | 50,300,000 | ' |
Expiring in One Year [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 1,135,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | 140,000 | ' | ' |
Expiring in Two Years [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 2,931,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | 635,000 | ' | ' |
Expiring in Three Years [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 5,317,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | 1,200,000 | ' | ' |
Expiring in Four Years [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 3,630,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | 709,000 | ' | ' |
Expiring in Five Years [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 3,926,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | 641,000 | ' | ' |
Expiring in More than Five Years [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 111,905,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | 36,499,000 | ' | ' |
Not Subject to Expiration [Member] | US Federal and Foreign [Member] | ' | ' | ' |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 26,969,000 | ' | ' |
Operating Loss Carryforward, Tax Effected | $5,726,000 | ' | ' |
Valuation_and_Qualifying_Accou2
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Allowance for doubtful accounts receivable, period start | $21,512 | $14,787 | $14,924 |
Additions-charged to expense | 7,007 | 9,201 | 5,046 |
Amounts written off | -6,068 | -2,889 | -6,058 |
Other (primarily changes in foreign currency exchange rates) | -372 | 413 | 875 |
Allowance for doubtful accounts receivable, period end | $22,079 | $21,512 | $14,787 |
Stock_Plans_Details
Stock Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 5,275,020 | ' | ' |
Allocated Share-based Compensation Expense | $11,500,000 | $11,800,000 | $10,800,000 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 600,000 | 700,000 | 600,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 4,067,411 | 4,810,816 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period [Line Items] | 317,174 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -894,498 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | -166,081 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,839,633 | 1,937,245 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 3,795,264 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $19.16 | $16.73 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $45.86 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $15.74 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $18.14 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $14.02 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $18.68 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 10 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '6 years 8 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '5 years 8 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 116,691,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 62,239,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 110,710,000 | ' | ' |
Proceeds from Stock Options Exercised | 13,600,000 | 5,200,000 | 2,000,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | 18,600,000 | 7,400,000 | 2,000,000 |
employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, total period for recognition | '3 years 6 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 25.60% | 29.70% | 39.90% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 41.94% | 43.90% | 45.10% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '3 months | '3 months | '3 months |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $18.43 | $9.46 | $6.85 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Shares reserved for employee stock purchase plan | 1,000,000 | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 44,323 | 56,189 | 57,018 |
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $25.06 | $15.42 | $12.77 |
Share-based compensation arrangements by share-based payment award, per share, ESPP grant date fair value | $5.72 | $3.63 | $3.70 |
Employee Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateWeightedAverage | 0.04% | 0.07% | 0.06% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 928,988 | 1,106,129 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 155,930 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | -195,834 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -137,237 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $23.69 | $19.73 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $43.47 | $21.99 | $16.55 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $19.64 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value | $20.05 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 7,300,000 | 6,900,000 | 5,000,000 |
Performance-based Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 8,500,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '1 year 11 months | ' | ' |
Time-based restricted stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 6,100,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '3 years 7 months | ' | ' |
Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 14,300,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '5 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.60% | ' | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateWeightedAverage | ' | 0.83% | 1.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Share-base compensation arrangement by share-based payment award, FV assumptions, forfeitures | 8.00% | 8.00% | 8.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '5 years 5 months | '5 years 8 months | '5 years 5 months |
Stock Option [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | 0.81% | 0.99% |
Stock Option [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | 1.03% | 2.33% |
Employee Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Allocated Share-based Compensation Expense | $200,000 | $200,000 | $200,000 |
Employee Stock [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 20.90% | 22.60% | 26.50% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.02% | 0.02% | 0.02% |
Employee Stock [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 29.60% | 35.20% | 52.50% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.08% | 0.10% | 0.11% |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $375,402,000 | $360,580,000 | $341,543,000 | $335,644,000 | $351,246,000 | $316,356,000 | $302,377,000 | $297,622,000 | $1,413,169,000 | $1,267,601,000 | $1,161,304,000 |
Direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 892,928,000 | 812,059,000 | 740,729,000 |
Salaries and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 208,244,000 | 184,055,000 | 168,474,000 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 129,427,000 | 120,575,000 | 112,507,000 |
Acquisition-related contingent consideration gain | ' | ' | ' | ' | ' | ' | ' | ' | -19,319,000 | 0 | 0 |
Goodwill and acquired intangible assets impairment | ' | ' | ' | ' | ' | ' | ' | ' | 18,425,000 | 28,740,000 | 0 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 65,053,000 | 64,167,000 | 60,457,000 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,294,758,000 | 1,209,596,000 | 1,082,167,000 |
Operating income | 16,108,000 | 55,345,000 | 27,800,000 | 19,158,000 | -1,886,000 | 24,195,000 | 19,854,000 | 15,842,000 | 118,411,000 | 58,005,000 | 79,137,000 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 1,998,000 | 3,993,000 | 5,749,000 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -10,139,000 | -19,653,000 | -21,385,000 |
Income from unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 206,000 | 942,000 | 1,852,000 |
Other gains | ' | ' | ' | ' | ' | ' | ' | ' | 2,398,000 | 4,146,000 | 1,000,000 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,899,000 |
Foreign currency exchange gain (loss), net | ' | ' | ' | ' | ' | ' | ' | ' | 2,211,000 | -99,000 | -1,662,000 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,326,000 | -10,671,000 | -16,345,000 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 115,085,000 | 47,334,000 | 62,792,000 |
Property and Equipment, net | 116,230,000 | ' | ' | ' | 115,475,000 | ' | ' | ' | 116,230,000 | 115,475,000 | 102,900,000 |
Total Assets | 1,598,115,000 | ' | ' | ' | 1,551,536,000 | ' | ' | ' | 1,598,115,000 | 1,551,536,000 | 1,506,329,000 |
Eft Processing Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 296,240,000 | 237,948,000 | 199,249,000 |
Direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 141,381,000 | 114,826,000 | 95,739,000 |
Salaries and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 40,150,000 | 32,784,000 | 29,487,000 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 23,141,000 | 20,628,000 | 19,798,000 |
Acquisition-related contingent consideration gain | ' | ' | ' | ' | ' | ' | ' | ' | -19,319,000 | ' | ' |
Goodwill and acquired intangible assets impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 29,537,000 | 25,302,000 | 21,017,000 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 214,890,000 | 193,540,000 | 166,041,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 81,350,000 | 44,408,000 | 33,208,000 |
Property and Equipment, net | 64,972,000 | ' | ' | ' | 62,359,000 | ' | ' | ' | 64,972,000 | 62,359,000 | 54,169,000 |
Total Assets | 347,073,000 | ' | ' | ' | 231,320,000 | ' | ' | ' | 347,073,000 | 231,320,000 | 203,494,000 |
Epay Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 748,680,000 | 714,125,000 | 677,051,000 |
Direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 575,787,000 | 548,390,000 | 514,429,000 |
Salaries and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 57,251,000 | 53,399,000 | 48,386,000 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 41,000,000 | 44,496,000 | 38,711,000 |
Acquisition-related contingent consideration gain | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Goodwill and acquired intangible assets impairment | ' | ' | ' | ' | ' | ' | ' | ' | 18,425,000 | 28,740,000 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 16,756,000 | 19,599,000 | 18,751,000 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 709,219,000 | 694,624,000 | 620,277,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 39,461,000 | 19,501,000 | 56,774,000 |
Property and Equipment, net | 27,176,000 | ' | ' | ' | 29,912,000 | ' | ' | ' | 27,176,000 | 29,912,000 | 27,303,000 |
Total Assets | 757,942,000 | ' | ' | ' | 840,513,000 | ' | ' | ' | 757,942,000 | 840,513,000 | 803,897,000 |
Money Transfer Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 370,365,000 | 316,135,000 | 285,299,000 |
Direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | 177,783,000 | 149,397,000 | 130,783,000 |
Salaries and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 88,222,000 | 75,540,000 | 70,603,000 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 54,870,000 | 47,673,000 | 46,441,000 |
Acquisition-related contingent consideration gain | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Goodwill and acquired intangible assets impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 18,395,000 | 18,902,000 | 20,346,000 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 339,270,000 | 291,512,000 | 268,173,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 31,095,000 | 24,623,000 | 17,126,000 |
Property and Equipment, net | 23,768,000 | ' | ' | ' | 22,856,000 | ' | ' | ' | 23,768,000 | 22,856,000 | 20,990,000 |
Total Assets | 472,390,000 | ' | ' | ' | 455,981,000 | ' | ' | ' | 472,390,000 | 455,981,000 | 472,532,000 |
Unallocated Amount to Segment, Intersegment Eliminations and Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -2,116,000 | -607,000 | -295,000 |
Direct operating costs | ' | ' | ' | ' | ' | ' | ' | ' | -2,023,000 | -554,000 | -222,000 |
Salaries and benefits | ' | ' | ' | ' | ' | ' | ' | ' | 22,621,000 | 22,332,000 | 19,998,000 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 10,416,000 | 7,778,000 | 7,557,000 |
Acquisition-related contingent consideration gain | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Goodwill and acquired intangible assets impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 365,000 | 364,000 | 343,000 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 31,379,000 | 29,920,000 | 27,676,000 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -33,495,000 | -30,527,000 | -27,971,000 |
Property and Equipment, net | 314,000 | ' | ' | ' | 348,000 | ' | ' | ' | 314,000 | 348,000 | 438,000 |
Total Assets | 20,710,000 | ' | ' | ' | 23,722,000 | ' | ' | ' | 20,710,000 | 23,722,000 | 26,406,000 |
UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 341,964,000 | 294,122,000 | 233,903,000 |
Property and Equipment, net | 22,556,000 | ' | ' | ' | 19,255,000 | ' | ' | ' | 22,556,000 | 19,255,000 | ' |
Total Assets | 275,040,000 | ' | ' | ' | 284,748,000 | ' | ' | ' | 275,040,000 | 284,748,000 | ' |
Foreign Tax Authority [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,071,205,000 | 973,479,000 | 927,401,000 |
Property and Equipment, net | 93,674,000 | ' | ' | ' | 96,220,000 | ' | ' | ' | 93,674,000 | 96,220,000 | ' |
Total Assets | 1,323,075,000 | ' | ' | ' | 1,266,788,000 | ' | ' | ' | 1,323,075,000 | 1,266,788,000 | ' |
AUSTRALIA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 103,571,000 | 137,054,000 | 193,557,000 |
Property and Equipment, net | 1,709,000 | ' | ' | ' | 2,130,000 | ' | ' | ' | 1,709,000 | 2,130,000 | ' |
Total Assets | 131,037,000 | ' | ' | ' | 156,352,000 | ' | ' | ' | 131,037,000 | 156,352,000 | ' |
UNITED KINGDOM | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 95,127,000 | 104,496,000 | 123,387,000 |
Property and Equipment, net | 4,027,000 | ' | ' | ' | 5,071,000 | ' | ' | ' | 4,027,000 | 5,071,000 | ' |
Total Assets | 139,172,000 | ' | ' | ' | 126,393,000 | ' | ' | ' | 139,172,000 | 126,393,000 | ' |
GERMANY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 336,551,000 | 276,862,000 | 166,687,000 |
Property and Equipment, net | 12,162,000 | ' | ' | ' | 12,164,000 | ' | ' | ' | 12,162,000 | 12,164,000 | ' |
Total Assets | 366,695,000 | ' | ' | ' | 353,947,000 | ' | ' | ' | 366,695,000 | 353,947,000 | ' |
POLAND | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 103,147,000 | 89,873,000 | 81,232,000 |
Property and Equipment, net | 41,907,000 | ' | ' | ' | 39,736,000 | ' | ' | ' | 41,907,000 | 39,736,000 | ' |
Total Assets | 96,160,000 | ' | ' | ' | 79,010,000 | ' | ' | ' | 96,160,000 | 79,010,000 | ' |
SPAIN | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 54,804,000 | 50,047,000 | 65,188,000 |
Property and Equipment, net | 3,167,000 | ' | ' | ' | 2,154,000 | ' | ' | ' | 3,167,000 | 2,154,000 | ' |
Total Assets | 80,196,000 | ' | ' | ' | 79,909,000 | ' | ' | ' | 80,196,000 | 79,909,000 | ' |
BRAZIL | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 44,633,000 | 47,955,000 | 58,654,000 |
Property and Equipment, net | 1,750,000 | ' | ' | ' | 3,408,000 | ' | ' | ' | 1,750,000 | 3,408,000 | ' |
Total Assets | 27,263,000 | ' | ' | ' | 41,119,000 | ' | ' | ' | 27,263,000 | 41,119,000 | ' |
ITALY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 54,765,000 | 50,178,000 | 53,970,000 |
Property and Equipment, net | 1,813,000 | ' | ' | ' | 1,509,000 | ' | ' | ' | 1,813,000 | 1,509,000 | ' |
Total Assets | 92,055,000 | ' | ' | ' | 80,814,000 | ' | ' | ' | 92,055,000 | 80,814,000 | ' |
INDIA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 59,744,000 | 52,228,000 | 41,870,000 |
Property and Equipment, net | 2,742,000 | ' | ' | ' | 3,513,000 | ' | ' | ' | 2,742,000 | 3,513,000 | ' |
Total Assets | 40,638,000 | ' | ' | ' | 37,982,000 | ' | ' | ' | 40,638,000 | 37,982,000 | ' |
Other geographic locations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 218,863,000 | 164,786,000 | 142,856,000 |
Property and Equipment, net | 24,397,000 | ' | ' | ' | 26,535,000 | ' | ' | ' | 24,397,000 | 26,535,000 | ' |
Total Assets | $349,859,000 | ' | ' | ' | $311,262,000 | ' | ' | ' | $349,859,000 | $311,262,000 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 04, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | epay Brazil [Member] | epay Brazil [Member] | Pure Commerce Pty Ltd [Member] | Pure Commerce Pty Ltd [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Customer Relationships [Member] | ||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt, Fair Value Disclosures | ' | ' | ($3,586,000) | ($3,579,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Derivatives LIabilities, Net | -82,000 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | -82,000 | ' | 0 | ' |
Foreign Currency Derivatives at Fair Value, Net | ' | 35,000 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 35,000 | ' | 0 |
Goodwill, Impairment Loss | 18,425,000 | 23,505,000 | ' | ' | 23,505,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Intangible Assets, Finite-lived | 0 | -5,235,000 | ' | ' | ' | 5,235,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | $0 | ($21,725,000) | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Change
Fair Value Measurements - Changes in Fair Value of Contingent Consideration Obligations (Details) (Pure Commerce Pty Ltd [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jan. 04, 2013 |
Pure Commerce Pty Ltd [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Business Combination, Contingent Consideration, Liability | $0 | ($21,725) |
Change in fair value - foreign currency gain,net | 2,406 | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | $19,319 | ' |
Computer_Software_to_be_Sold_D
Computer Software to be Sold (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Movement in Capitalized Computer Software, Net [Roll Forward] | ' | ' | ' |
Capitalized Software Development Costs, Net Period Start | $5,274 | $3,841 | $3,123 |
Capitalized Software Development Costs, Additions | 4,932 | 3,908 | 2,609 |
Capitalized Software Development Costs, Amortization | -3,227 | -2,475 | -1,891 |
Capitalized Software Development Costs, Net Period End | 6,979 | 5,274 | 3,841 |
Research and Development Expense, Software (Excluding Acquired in Process Cost) | $2,400 | $1,900 | $1,100 |
Litigation_and_Contingencies_D
Litigation and Contingencies (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Loss Contingencies [Line Items] | ' | ' |
Percent of European business impacted by computer security breach | ' | 5.00% |
Computer security breach expenses | $0.50 | $0.40 |
Insurance Recoveries | $1.90 | ' |
Commitments_Details
Commitments (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Guarantor Obligations [Line Items] | ' |
Letters of Credit Outstanding, Amount | $105.40 |
Performance Guarantee [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | 27.3 |
Indemnification Agreement [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | 480 |
Guarantee Type, Other [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | 16 |
Cash and Cash Equivalents [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Pledged Assets, Not Separately Reported, Other | $5 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Related Party Transaction [Line Items] | ' | ' | ' |
Related party transaction, expenses from transactions with related party | $300,000 | $200,000 | $200,000 |
Payments for repurchase of common stock | 0 | 42,853,000 | 15,996,000 |
West Side Investment Management, Inc [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Stock repurchased during period, shares | ' | 1,884,597 | ' |
Payments for repurchase of common stock | ' | $41,008,831 | ' |
Selected_Quarterly_Data_Unaudi2
Selected Quarterly Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
SELECTED QUARERLY DATA (UNAUDITED) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues (quarterly) | $375,402 | $360,580 | $341,543 | $335,644 | $351,246 | $316,356 | $302,377 | $297,622 | $1,413,169 | $1,267,601 | $1,161,304 |
Operating income (loss) (quarterly) | 16,108 | 55,345 | 27,800 | 19,158 | -1,886 | 24,195 | 19,854 | 15,842 | 118,411 | 58,005 | 79,137 |
Net income (loss) | 9,154 | 47,974 | 18,165 | 12,060 | -12,768 | 14,341 | 5,726 | 13,098 | 87,353 | 20,397 | 38,088 |
Net income attributable to Euronet Worldwide, Inc. (quarterly) | $9,995 | $47,874 | $18,111 | $12,006 | ($13,014) | $14,630 | $5,747 | $13,172 | $87,986 | $20,535 | $36,961 |
Earnings (loss) per share, basic (quarterly) | $0.20 | $0.96 | $0.36 | $0.24 | ($0.26) | $0.29 | $0.11 | $0.26 | $1.76 | $0.41 | $0.73 |
Earnings (loss) per share, diluted (quarterly) | $0.19 | $0.92 | $0.35 | $0.24 | ($0.26) | $0.28 | $0.11 | $0.26 | $1.69 | $0.40 | $0.71 |