Euronet Worldwide (EEFT) 10-Q 2 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
Entity Information [Line Items]
Entity Registrant Name	EURONET WORLDWIDE INC
Entity Central Index Key	1,029,199
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		52,430,488

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 763,587	$ 734,414
Restricted cash	99,992	77,674
Inventory — PINs and other	43,965	78,115
Trade accounts receivable, net of allowances for doubtful accounts of $18,887 at March 31, 2017 and $18,369 at December 31, 2016	370,873	502,989
Prepaid expenses and other current assets	166,829	191,796
Total current assets	1,445,246	1,584,988
Property and equipment, net of accumulated depreciation of $281,165 at March 31, 2017 and $262,470 at December 31, 2016	217,866	202,145
Goodwill	698,511	689,713
Acquired intangible assets, net of accumulated amortization of $158,286 at March 31, 2017 and $150,347 at December 31, 2016	161,075	165,331
Other assets, net of accumulated amortization of $38,464 at March 31, 2017 and $36,984 at December 31, 2016	75,138	70,695
Total assets	2,597,836	2,712,872
Current liabilities:
Trade accounts payable	318,416	456,682
Accrued expenses and other current liabilities	580,240	615,153
Current portion of capital lease obligations	3,950	3,293
Short-term debt obligations and current maturities of long-term debt obligations	30,142	32,161
Income taxes payable	28,156	27,611
Deferred revenue	46,550	44,200
Total current liabilities	1,007,454	1,179,100
Debt obligations, net of current portion	562,233	561,663
Capital lease obligations, net of current portion	8,608	6,969
Deferred income taxes	44,418	44,079
Other long-term liabilities	21,414	20,504
Total liabilities	1,644,127	1,812,315
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; 58,534,749 issued at March 31, 2017 and 58,389,242 issued at December 31, 2016	1,171	1,168
Additional paid-in-capital	1,051,745	1,045,663
Treasury stock, at cost, 6,106,743 shares at March 31, 2016 and 6,085,841 shares at December 31, 2016	(217,452)	(215,462)
Retained earnings	308,232	278,842
Accumulated other comprehensive loss	(191,266)	(210,662)
Total Euronet Worldwide, Inc. stockholders' equity	952,430	899,549
Noncontrolling interests	1,279	1,008
Total equity	953,709	900,557
Total liabilities and equity	$ 2,597,836	$ 2,712,872

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts receivable	$ 18,887	$ 18,369
Accumulated depreciation of property and equipment	281,165	262,470
Accumulated amortization of intangible assets	158,286	150,347
Accumulated amortization of other assets	$ 38,464	$ 36,984
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	58,534,749	58,389,242
Treasury Stock, shares	6,106,743	6,085,841

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues	$ 473,380	$ 437,894
Operating expenses:
Direct operating costs	296,607	271,626
Salaries and benefits	71,863	67,237
Selling, general and administrative	41,987	37,854
Depreciation and amortization	21,637	19,288
Total operating expenses	432,094	396,005
Operating income	41,286	41,889
Other income (expense):
Interest income	1,170	452
Interest expense	(7,148)	(6,286)
Foreign currency exchange gain, net	1,715	2,172
Other (losses) gains	17	0
Other expense, net	(4,246)	(3,662)
Income before income taxes	37,040	38,227
Income tax expense	(8,971)	(9,143)
Net income	28,069	29,084
Net loss attributable to noncontrolling interests	54	10
Net income attributable to Euronet Worldwide, Inc.	$ 28,123	$ 29,094
Earnings per share attributable to Euronet Worldwide, Inc. stockholders - basic	$ 0.54	$ 0.55
Earnings per share attributable to Euronet Worldwide, Inc. stockholders - diluted	$ 0.51	$ 0.53
Weighted average number of shares outstanding - basic	52,345,944	52,685,765
Weighted average number of shares outstanding - diluted	54,921,779	54,529,588

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 28,069	$ 29,084
Translation adjustment	19,420	34,702
Comprehensive income	47,489	63,786
Comprehensive loss attributable to noncontrolling interests	30	57
Comprehensive income attributable to Euronet Worldwide, Inc.	$ 47,519	$ 63,843

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 28,069	$ 29,084
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,637	19,288
Share-based compensation	3,706	3,711
Unrealized foreign exchange gain, net	(1,715)	(2,172)
Deferred income taxes	922	(1,067)
Accretion of convertible debt discount and amortization of debt issuance costs	3,317	3,117
Changes in working capital, net of amounts acquired:
Income taxes payable, net	(98)	2,410
Restricted cash	3,583	8,090
Inventory - PINs and other	35,373	11,022
Trade accounts receivable	140,012	81,736
Prepaid expenses and other current assets	26,774	5,736
Trade accounts payable	(144,333)	(109,796)
Deferred revenue	1,924	5,331
Accrued expenses and other current liabilities	(68,996)	49,620
Changes in noncurrent assets and liabilities	656	(1,497)
Net cash provided by operating activities	50,831	104,613
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(137)
Purchases of property and equipment	(22,659)	(17,354)
Purchases of other long-term assets	(1,513)	(1,513)
Other, net	259	101
Net cash used in investing activities	(23,913)	(18,903)
Cash flows from financing activities:
Proceeds from issuance of shares	2,084	1,992
Repurchase of shares	(2,188)	(76,390)
Borrowings from revolving credit agreements	342,113	538,969
Repayments of revolving credit agreements	(342,900)	(467,099)
Repayments of long-term debt obligations	(1,875)	(1,406)
Repayments of capital lease obligations	(1,150)	(599)
Borrowings (repayments of) from short-term debt obligations, net	(2,746)	(999)
Other, net	301	278
Net cash used in financing activities	(6,361)	(5,254)
Effect of exchange rate changes on cash and cash equivalents	8,616	10,558
Increase in cash and cash equivalents	29,173	91,014
Cash and cash equivalents at beginning of period	734,414	457,518
Cash and cash equivalents at end of period	763,587	548,532
Interest paid during the period	6,387	1,621
Income taxes paid during the period	$ 5,825	$ 10,462

General

General	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	GENERAL Organization Euronet Worldwide, Inc. (together with its subsidiaries, the “Company” or “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, software solutions, electronic distribution of prepaid mobile airtime and other electronic payment products, foreign currency exchange services and global money transfer services. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared from the records of the Company, in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, such unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to fairly present the consolidated financial position and the results of operations, comprehensive income and cash flows for the interim periods. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2016 , including the notes thereto, set forth in the Company’s 2016 Annual Report on Form 10-K. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reported period. Significant items subject to such estimates and assumptions include computing income taxes, 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. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year ending December 31, 2017 . Seasonality Euronet’s EFT Processing Segment experiences its heaviest demand for dynamic currency conversion ("DCC") services during the third quarter of the fiscal year, coinciding with tourism season. Additionally, the EFT Processing and epay Segments are impacted by seasonality during the fourth quarter and the first quarter of each year due to higher transaction levels during the holiday season and lower levels following the holiday season. Seasonality in the Money Transfer Segment varies by regions 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 experiences its lowest transaction levels during the first quarter of each year.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In July 2015, the FASB approved a one-year deferral of the effective date of the new revenue recognition standard. The new standard will become effective for the Company on January 1, 2018. The standard permits the use of either the full retrospective or modified retrospective transition method. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue versus Net) . In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing . In May 2016, the FASB issued ASU 2016-11, Revenue from Contracts with Customers (Topic 606) and Derivatives and Hedging (Topic 815) - Rescission of SEC Guidance Because of ASU 2014-09 and 2014-16, and ASU 2016-12, Revenue from Contracts with Customers (Topic 606) - Narrow Scope Improvements and Practical Expedient s. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (Topic 606) . These ASUs clarify the implementation guidance on a few narrow areas, make minor corrections and adds some practical expedients to the guidance in Topic 606. Lastly, in February 2017, the FASB issued ASU 2017-05, Other Income -Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets , which clarifies the scope of asset derecognition guidance and provide guidance on partial sales of nonfinancial assets. This ASU clarifies the scope and accounting of a financial asset that meets the definition of an “in-substance nonfinancial asset” and defines the term, “in-substance nonfinancial asset.” This ASU must be adopted at the same time as ASC 606. The Company has performed a review of the requirements of the new revenue standards and is in the process of reviewing customer contracts under the new revenue standards but does not expect the new revenue standards will have a material impact on the timing of revenue recognition on its consolidated financial statements. The Company continues to assess all potential effects of the standards and it believes the principal versus agent guidance may affect the presentation and classification of revenue for certain epay and EFT segment arrangements. The Company will continue to update its assessment of the effect the new revenue standards will have on its consolidated financial statements and will disclose the final determination of the transition method and material effects, if any, when known. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which will update the existing guidance on accounting for leases and require new qualitative and quantitative disclosures about the Company’s leasing activities. The new standard requires lessees to account for all leases on the balance sheet, except for certain short-term leases that have a maximum possible lease term of 12 months. The accounting for lessors is largely unchanged from the previous accounting guidance, except for leverage lease accounting which is not permitted for leases entered into or modified after the effective date of the new standard. The new standard is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that the Company may elect to apply. The Company is currently evaluating the expected impact of the adoption of this standard on its consolidated financial statements and related disclosures. In March 2016, FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which addresses how companies account for certain aspects of share-based payments to employees. This ASU requires all excess tax benefits and tax deficiencies be recognized in the statement of income as a component of income tax expense or benefit. The tax effects of exercised, expired or vested awards are treated as discrete items in the reporting period in which they occur and may result in increased volatility in the Company's effective tax rate. As part of the adoption of this standard during the recent quarter, the Company was required to recognize previously unrecognized excess tax benefits on a modified retrospective basis and record an adjustment to deferred tax assets and retained earnings. Additionally, the Company applied the prospective transition method for the presentation of excess tax benefits from a financing activity to an operating activity in the Company’s consolidated statements of cash flows. Cash paid by the Company when directly withholding shares for tax withholding purposes is classified as a financing activity in the Consolidated Statements of Cash Flows. The Company made an accounting election to continue to estimate forfeitures when determining amortization expense of stock-based compensation. For the period ended March 31, 2017, the adoption of the provisions of this ASU did not have a material impact on the Company’s consolidated statement of income. A cumulative effect adjustment of $40.2 million for previously unrecognized excess tax benefits from prior fiscal years was recognized in beginning Retained earnings as of January 1, 2017. As a result of recognizing this excess tax benefit, the Company recorded a deferred tax asset of $40.2 million and an associated valuation allowance of $38.9 million to beginning Retained earnings. The offsetting deferred tax asset and valuation allowance resulted in a net increase of $1.3 million to beginning Retained earnings at adoption. Prior to 2017, excess tax benefits were recognized in additional paid-in capital and tax deficiencies were recognized either as an offset to accumulated excess tax benefits, if any, or in the consolidated statements of income. Excess tax benefits were not recognized until the deduction reduced taxes payable. Additionally, excess tax benefits from stock-based compensation were included in financing activities within the Company’s consolidated statements of cash flows.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity	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 periods. 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 any 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: Three Months Ended 2017 2016 Computation of diluted weighted average shares outstanding: Basic weighted average shares outstanding 52,345,944 52,685,765 Incremental shares from assumed exercise of stock options and vesting of restricted stock 1,706,342 1,698,945 Incremental shares from assumed conversion of convertible notes 869,493 144,878 Diluted weighted average shares outstanding 54,921,779 54,529,588 The table includes the impact of all stock options and restricted stock that are dilutive to the Company’s weighted average common shares outstanding during the three months ended March 31, 2017 and 2016 . 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 of approximately 969,000 and 418,000 for the three months ended March 31, 2017 , and 2016 , respectively. During 2017 and 2016 , the Company had convertible notes outstanding that, if converted, could have had a potentially dilutive effect on its common stock. At issuance, the Company stated its intent to settle any conversion of these notes by paying cash for the principal value and issuing common stock for any conversion value in excess of the principal value. As of March 31, 2017 , and currently, the Company maintains the intent and ability to settle any conversion as stated. Accordingly, the convertible notes would only have a dilutive effect if the market price per share of common stock exceeds the conversion price per share of common stock, which it did as of March 31, 2017 and 2016 . Therefore, according to Accounting Standards Codification ("ASC") 260, Earnings per Share , these notes were dilutive to earnings per share for the three months ended March 31, 2017 and 2016 . See Note 6, Debt Obligations, for more information about the convertible notes. Accumulated Other Comprehensive Loss Accumulated other comprehensive income consists entirely of foreign currency translation adjustments. The Company recorded foreign currency translation gains of $19.4 million and $34.7 million for the three months ended March 31, 2017 and 2016 , respectively. There were no reclassifications of foreign currency translation into the consolidated statements of income for the three months ended March 31, 2017 and 2016 .

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets, Net	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets, Net	GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET A summary of acquired intangible assets and goodwill activity for the three months ended March 31, 2017 is presented below: (in thousands) Acquired Intangible Assets Goodwill Total Intangible Assets Balance as of December 31, 2016 $ 165,331 $ 689,713 $ 855,044 Increases (Decreases): Amortization (6,347 ) — (6,347 ) Other (primarily changes in foreign currency exchange rates) 2,091 8,798 10,889 Balance as of March 31, 2017 $ 161,075 $ 698,511 $ 859,586 Estimated amortization expense on intangible assets with finite lives, before income taxes, as of March 31, 2017 , is expected to total $17.7 million for the remainder of 2017 , $21.9 million for 2018 , $21.0 million for 2019 , $20.2 million for 2020 , $19.3 million for 2021 and $18.3 million for 2022 . The Company’s annual goodwill impairment test is performed during the fourth quarter of its fiscal year. The annual impairment test for the year ended December 31, 2016 resulted in no impairment charge. Determining the fair value of reporting units requires significant management judgment in estimating future cash flows and assessing potential market and economic conditions. It is reasonably possible that the Company’s operations will not perform as expected, or that the estimates or assumptions included in the 2016 annual impairment test could change, which may result in the Company recording material non-cash impairment charges during the year in which these changes take place.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2017
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]
Accrued Expenses and Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: As of (in thousands) March 31, 2017 December 31, 2016 Accrued expenses $ 229,538 $ 210,275 Money transfer settlement obligations 225,005 219,601 Accrued amounts due to mobile operators and other content providers 89,338 121,505 Derivative liabilities 36,359 63,772 Total $ 580,240 $ 615,153

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2017
DEBT OBLIGATIONS [Abstract]
Debt Obligations	DEBT OBLIGATIONS Debt obligations consist of the following: As of (in thousands) March 31, 2017 December 31, 2016 Credit Facility: Term loan, due 2019 $ 58,125 $ 60,000 Revolving credit agreements, due 2019 159,520 159,963 217,645 219,963 Convertible Debt: 1.50% convertible notes, unsecured, due 2044 360,982 358,293 Other obligations 21,450 23,892 Total debt obligations 600,077 602,148 Unamortized debt issuance costs (7,702 ) (8,324 ) Carrying value of debt 592,375 593,824 Short-term debt obligations and current maturities of long-term debt obligations (30,142 ) (32,161 ) Long-term debt obligations $ 562,233 $ 561,663 Credit Facility As of March 31, 2017 , the Company had a $675 million senior secured credit facility (the "Credit Facility") consisting of a $600 million revolving credit facility and a $75 million term loan ("Term Loan A"), which had been reduced to $58.1 million through principal amortization payments. The Credit Facility expires April 9, 2019 . Interest on borrowings under the revolving credit facility and Term Loan A varies based upon the Company's consolidated total leverage ratio, as defined in the Company's credit agreement, and is based on a margin over the London Inter-Bank Offered Rate (“LIBOR”) or a margin over a base rate, as selected by the Company, with the applicable margin ranging from 1.375% to 2.375% for LIBOR loans or 0.375% to 1.375% for base rate loans. Accordingly, the weighted average interest rate for borrowings outstanding under the Company's revolving credit facility and Term Loan A was 2.21% and 2.36% , respectively, as of March 31, 2017 . Convertible Debt The Convertible Senior Notes due 2044 (“Convertible Notes”) had a principal amount outstanding of $402.5 million as of March 31, 2017 . Contractual interest expense was $1.5 million for both the three months ended March 31, 2017 and 2016 . Accretion expense was $2.7 million and $2.6 million for the three months ended March 31, 2017 and 2016 , respectively. The effective interest rate was 4.7% for the three months ended March 31, 2017 . As of March 31, 2017 , the unamortized discount was $41.5 million , and will be amortized through October 1, 2020.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2017
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Derivative Instruments and Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to foreign currency exchange risk resulting from (i) the collection of funds or the settlement of money transfer transactions in currencies other than the U.S. Dollar, (ii) derivative contracts written to its customers in connection with providing cross-currency money transfer services and (iii) short-term borrowings that are payable in currencies other than the U.S. dollar. The Company enters into foreign currency derivative contracts, primarily foreign currency forwards and cross-currency swaps, to minimize its exposure related to fluctuations in foreign currency exchange rates. As a matter of Company policy, the derivative instruments used in these activities are economic hedges and are not designated as hedges under ASC Topic 815, Derivatives and Hedging, primarily due to either the relatively short duration of the contract term or the effects of fluctuations in currency exchange rates being reflected concurrently in earnings for both the derivative instrument and the transaction and having an offsetting effect. Foreign currency exchange contracts - Ria Operations and Corporate In the United States, the Company's Ria operations use short-duration foreign currency forward contracts, generally with maturities up to 14 days , to offset the fluctuation in foreign currency exchange rates on the collection of money transfer funds between initiation of a transaction and its settlement. Due to the short duration of these contracts and the Company’s credit profile, the Company is generally not required to post collateral with respect to these foreign currency forward contracts. Most derivative contracts executed with counterparties in the U.S. are governed by an International Swaps and Derivatives Association agreement that includes standard netting arrangements; therefore, asset and liability positions from forward contracts and all other foreign exchange transactions with the same counterparty are net settled upon maturity. As of March 31, 2017 , the Company held in its Ria operations foreign currency forward contracts outstanding in the U.S. with a notional value of $211 million , primarily in Australian dollars, Canadian dollars, British pounds, euros and Mexican pesos. In addition, the Company uses forward contracts, typically with maturities from a few days to less than one year, to offset foreign exchange rate fluctuations on certain foreign currency denominated other asset and liability positions. As of March 31, 2017 , the Company had foreign currency forward contracts outstanding with a notional value of $86 million , primarily in British pounds, euros and Polish zloty. Foreign currency exchange contracts - HiFX Operations HiFX writes derivative instruments, primarily foreign currency forward contracts and cross-currency swaps, mostly with counterparties comprised of individuals and small-to-medium size businesses and derives a currency margin from this activity as part of its operations. HiFX aggregates its foreign currency exposures arising from customer contracts and may hedge some or all of the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties. Foreign exchange revenues from HiFX's total portfolio of positions were $15.7 million and $15.2 million for the three months ended March 31, 2017 and 2016 , respectively. All of the derivative contracts used in the Company's HiFX operations are economic hedges and are not designated as hedges under ASC Topic 815 . The duration of these derivative contracts is generally less than one year. The fair value of HiFX's total portfolio of positions can change significantly from period to period based on, among other factors, market movements and changes in customer contract positions. HiFX manages counterparty credit risk (the risk that counterparties will default and not make payments according to the terms of the agreements) on an individual counterparty basis. It mitigates this risk by entering into contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties. HiFX does not expect any significant losses from counterparty defaults. The aggregate equivalent U.S. dollar notional amounts of foreign currency derivative customer contracts held by the Company in its HiFX operations as of March 31, 2017 was approximately $1.3 billion . The majority of customer contracts are written in major currencies such as the U.S. dollar, euro, New Zealand dollar, British pound, and Australian dollar. Balance Sheet Presentation The following table summarizes the fair value of the derivative instruments as recorded in the Consolidated Balance Sheets as of the dates below: Asset Derivatives Liability Derivatives Fair Value Fair Value (in thousands) Balance Sheet Location March 31, 2017 December 31, 2016 Balance Sheet Location March 31, 2017 December 31, 2016 Derivatives not designated as hedging instruments Foreign currency exchange contracts Other current assets $ 46,236 $ 75,307 Other current liabilities $ (36,359 ) $ (63,772 ) The following tables summarize the gross and net fair value of derivative assets and liabilities as of March 31, 2017 and December 31, 2016 (in thousands): Offsetting of Derivative Assets Gross Amounts Not Offset in the Consolidated Balance Sheet As of March 31, 2017 Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments Cash Collateral Received Net Amounts Derivatives subject to a master netting arrangement or similar agreement $ 46,236 $ — $ 46,236 $ (25,701 ) $ (7,844 ) $ 12,691 As of December 31, 2016 Derivatives subject to a master netting arrangement or similar agreement $ 75,307 $ — $ 75,307 $ (49,752 ) $ (7,562 ) $ 17,993 Offsetting of Derivative Liabilities Gross Amounts Not Offset in the Consolidated Balance Sheet As of March 31, 2017 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments Cash Collateral Paid Net Amounts Derivatives subject to a master netting arrangement or similar agreement $ (36,359 ) $ — $ (36,359 ) $ 25,701 $ 1,484 $ (9,174 ) As of December 31, 2016 Derivatives subject to a master netting arrangement or similar agreement $ (63,772 ) $ — $ (63,772 ) $ 49,752 $ 1,106 $ (12,914 ) See Note 8, Fair Value Measurements, for the determination of the fair values of derivatives. Income Statement Presentation The following tables summarize the location and amount of losses on derivatives in the Consolidated Statements of Income for the three months ended March 31, 2017 and 2016 : Amount of Loss Recognized in Income on Derivative Contracts (a) Location of Loss Recognized in Income on Derivative Contracts Three Months Ended (in thousands) 2017 2016 Foreign currency exchange contracts Foreign currency exchange loss, net $ (4,659 ) $ (1,080 ) (a) The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its HiFX operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value measurements used in the unaudited 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 and liabilities measured and recorded at fair value on a recurring basis: As of March 31, 2017 (in thousands) Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Foreign currency exchange contracts Other current assets $ — $ 46,236 $ — $ 46,236 Liabilities Foreign currency exchange contracts Other current liabilities $ — $ (36,359 ) $ — $ (36,359 ) As of December 31, 2016 (in thousands) Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Foreign currency exchange contracts Other current assets $ — $ 75,307 $ — $ 75,307 Liabilities Foreign currency exchange contracts Other current liabilities $ — $ (63,772 ) $ — $ (63,772 ) Other Fair Value Disclosures The carrying amounts of cash and cash equivalents, accounts receivable, trade accounts payable, accrued expenses and other current obligations approximate their fair values because of the relatively short-term maturities of these financial instruments. The carrying values of the Company’s long-term debt (other than the Convertible Notes), including the current portion, approximate fair value because interest is primarily based on LIBOR, which resets at various intervals of less than one year. The Company estimates the fair value of the Convertible Notes using quoted prices in inactive markets for identical liabilities (Level 2). As of March 31, 2017 and December 31, 2016 , the fair values of the Convertible Notes were $526.6 million and $475.1 million , respectively, with carrying values of $361.0 million and $358.3 million , respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Information [Abstract]
Segment Information	SEGMENT INFORMATION The Company’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 money transfer services under the brand names Ria, HiFX, IME and xe. Ria and IME provide global consumer-to-consumer money transfer services through a network of sending agents, Company-owned stores and Company-owned websites, disbursing money transfers through a worldwide correspondent network. HiFX offers account-to-account international payment services to high-income individuals and small-to-medium sized businesses. xe is a provider of foreign currency exchange information and offers money transfers on its currency data websites. 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. The Company provides cash management solutions and foreign currency risk management services to small-to-medium sized businesses under the brand name HiFM. In addition, the Company accounts for non-operating activity, most 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 three months ended March 31, 2017 and 2016 : For the Three Months Ended March 31, 2017 (in thousands) EFT Processing epay Money Transfer Corporate Services, Eliminations and Other Consolidated Total revenues $ 105,752 $ 164,169 $ 203,974 $ (515 ) $ 473,380 Operating expenses: Direct operating costs 62,073 126,160 108,885 (511 ) 296,607 Salaries and benefits 13,746 12,595 38,889 6,633 71,863 Selling, general and administrative 7,186 8,959 22,814 3,028 41,987 Depreciation and amortization 11,785 2,534 7,290 28 21,637 Total operating expenses 94,790 150,248 177,878 9,178 432,094 Operating income (expense) $ 10,962 $ 13,921 $ 26,096 $ (9,693 ) $ 41,286 For the Three Months Ended March 31, 2016 (in thousands) EFT Processing epay Money Transfer Corporate Services, Eliminations and Other Consolidated Total revenues $ 86,569 $ 170,105 $ 181,573 $ (353 ) $ 437,894 Operating expenses: Direct operating costs 46,747 130,162 95,070 (353 ) 271,626 Salaries and benefits 11,406 12,095 36,843 6,893 67,237 Selling, general and administrative 6,298 8,967 20,814 1,775 37,854 Depreciation and amortization 8,848 3,066 7,320 54 19,288 Total operating expenses 73,299 154,290 160,047 8,369 396,005 Operating income (expense) $ 13,270 $ 15,815 $ 21,526 $ (8,722 ) $ 41,889 The following table presents the Company’s property and equipment and total assets by reportable segment: Property and Equipment, net as of Total Assets as of (in thousands) March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 EFT Processing $ 153,382 $ 139,161 $ 891,592 $ 786,166 epay 24,176 23,939 552,096 733,514 Money Transfer 40,227 38,954 1,116,681 1,136,722 Corporate Services, Eliminations and Other 81 91 37,467 56,470 Total $ 217,866 $ 202,145 $ 2,597,836 $ 2,712,872

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
INCOME TAXES [Abstract]
Income Taxes	INCOME TAXES The Company's effective income tax rate was 24.2% and 23.9% for the three months ended March 31, 2017 and 2016 , respectively. The Company's effective income tax rates for the three months ended March 31, 2017 and 2016 were lower than the applicable statutory income tax rate of 35% primarily because of the Company's U.S. income tax positions. The Company does not have a history of significant taxable income in the U.S.; therefore, the Company has recorded a valuation allowance against its net U.S. deferred tax assets. Accordingly, in instances when the Company's U.S. legal entities generate pre-tax U.S. GAAP income, no income tax expense is recognized to the extent there are net operating loss carryforwards to offset the pre-tax U.S. GAAP income.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2017
Other Commitments [Line Items]
Commitments	COMMITMENTS As of March 31, 2017 , the Company had $72.4 million of stand-by letters of credit/bank guarantees issued on its behalf, of which $46.3 million are outstanding under the revolving credit facility. The remaining stand-by letters of credit/bank guarantees are collateralized by $3.0 million of cash deposits held by the respective issuing banks. Under certain circumstances, Euronet grants guarantees in support of obligations of subsidiaries. As of March 31, 2017 , the Company had granted off balance sheet guarantees for cash in various ATM networks amounting to $15.4 million over the terms of the cash supply agreements and performance guarantees amounting to approximately $21.1 million over the terms of agreements with the customers. Once each of Euronet's subsidiaries reaches a certain size, it 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 commercial counterparties 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 March 31, 2017 , the balance of cash used in the Company's ATM networks for which the Company was responsible was approximately $288 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 systems of internal controls and 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 March 31, 2017 or December 31, 2016 .

Litigation and Contingencies

Litigation and Contingencies	3 Months Ended
	Mar. 31, 2017
Loss Contingencies [Line Items]
Litigation and Contingencies	LITIGATION AND CONTINGENCIES From time to time, the Company is a party to legal or 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 on the Company's consolidated financial condition or results of operations. 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.

Recent Accounting Pronouncement

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies and Practices [Abstract]
Recently Issued and Adopted Accounting Pronouncements	In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In July 2015, the FASB approved a one-year deferral of the effective date of the new revenue recognition standard. The new standard will become effective for the Company on January 1, 2018. The standard permits the use of either the full retrospective or modified retrospective transition method. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue versus Net) . In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing . In May 2016, the FASB issued ASU 2016-11, Revenue from Contracts with Customers (Topic 606) and Derivatives and Hedging (Topic 815) - Rescission of SEC Guidance Because of ASU 2014-09 and 2014-16, and ASU 2016-12, Revenue from Contracts with Customers (Topic 606) - Narrow Scope Improvements and Practical Expedient s. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (Topic 606) . These ASUs clarify the implementation guidance on a few narrow areas, make minor corrections and adds some practical expedients to the guidance in Topic 606. Lastly, in February 2017, the FASB issued ASU 2017-05, Other Income -Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets , which clarifies the scope of asset derecognition guidance and provide guidance on partial sales of nonfinancial assets. This ASU clarifies the scope and accounting of a financial asset that meets the definition of an “in-substance nonfinancial asset” and defines the term, “in-substance nonfinancial asset.” This ASU must be adopted at the same time as ASC 606. The Company has performed a review of the requirements of the new revenue standards and is in the process of reviewing customer contracts under the new revenue standards but does not expect the new revenue standards will have a material impact on the timing of revenue recognition on its consolidated financial statements. The Company continues to assess all potential effects of the standards and it believes the principal versus agent guidance may affect the presentation and classification of revenue for certain epay and EFT segment arrangements. The Company will continue to update its assessment of the effect the new revenue standards will have on its consolidated financial statements and will disclose the final determination of the transition method and material effects, if any, when known. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which will update the existing guidance on accounting for leases and require new qualitative and quantitative disclosures about the Company’s leasing activities. The new standard requires lessees to account for all leases on the balance sheet, except for certain short-term leases that have a maximum possible lease term of 12 months. The accounting for lessors is largely unchanged from the previous accounting guidance, except for leverage lease accounting which is not permitted for leases entered into or modified after the effective date of the new standard. The new standard is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that the Company may elect to apply. The Company is currently evaluating the expected impact of the adoption of this standard on its consolidated financial statements and related disclosures. In March 2016, FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which addresses how companies account for certain aspects of share-based payments to employees. This ASU requires all excess tax benefits and tax deficiencies be recognized in the statement of income as a component of income tax expense or benefit. The tax effects of exercised, expired or vested awards are treated as discrete items in the reporting period in which they occur and may result in increased volatility in the Company's effective tax rate. As part of the adoption of this standard during the recent quarter, the Company was required to recognize previously unrecognized excess tax benefits on a modified retrospective basis and record an adjustment to deferred tax assets and retained earnings. Additionally, the Company applied the prospective transition method for the presentation of excess tax benefits from a financing activity to an operating activity in the Company’s consolidated statements of cash flows. Cash paid by the Company when directly withholding shares for tax withholding purposes is classified as a financing activity in the Consolidated Statements of Cash Flows. The Company made an accounting election to continue to estimate forfeitures when determining amortization expense of stock-based compensation. For the period ended March 31, 2017, the adoption of the provisions of this ASU did not have a material impact on the Company’s consolidated statement of income. A cumulative effect adjustment of $40.2 million for previously unrecognized excess tax benefits from prior fiscal years was recognized in beginning Retained earnings as of January 1, 2017. As a result of recognizing this excess tax benefit, the Company recorded a deferred tax asset of $40.2 million and an associated valuation allowance of $38.9 million to beginning Retained earnings. The offsetting deferred tax asset and valuation allowance resulted in a net increase of $1.3 million to beginning Retained earnings at adoption. Prior to 2017, excess tax benefits were recognized in additional paid-in capital and tax deficiencies were recognized either as an offset to accumulated excess tax benefits, if any, or in the consolidated statements of income. Excess tax benefits were not recognized until the deduction reduced taxes payable. Additionally, excess tax benefits from stock-based compensation were included in financing activities within the Company’s consolidated statements of cash flows.

Stocholders' Equity (Tables)

Stocholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
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: Three Months Ended 2017 2016 Computation of diluted weighted average shares outstanding: Basic weighted average shares outstanding 52,345,944 52,685,765 Incremental shares from assumed exercise of stock options and vesting of restricted stock 1,706,342 1,698,945 Incremental shares from assumed conversion of convertible notes 869,493 144,878 Diluted weighted average shares outstanding 54,921,779 54,529,588

Goodwill and Acquired Intangi21

Goodwill and Acquired Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	A summary of acquired intangible assets and goodwill activity for the three months ended March 31, 2017 is presented below: (in thousands) Acquired Intangible Assets Goodwill Total Intangible Assets Balance as of December 31, 2016 $ 165,331 $ 689,713 $ 855,044 Increases (Decreases): Amortization (6,347 ) — (6,347 ) Other (primarily changes in foreign currency exchange rates) 2,091 8,798 10,889 Balance as of March 31, 2017 $ 161,075 $ 698,511 $ 859,586

Accrued Expenses and Other Cu22

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block]	Accrued expenses and other current liabilities consist of the following: As of (in thousands) March 31, 2017 December 31, 2016 Accrued expenses $ 229,538 $ 210,275 Money transfer settlement obligations 225,005 219,601 Accrued amounts due to mobile operators and other content providers 89,338 121,505 Derivative liabilities 36,359 63,772 Total $ 580,240 $ 615,153

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2017
DEBT OBLIGATIONS [Abstract]
Schedule of Debt [Table Text Block]	Debt obligations consist of the following: As of (in thousands) March 31, 2017 December 31, 2016 Credit Facility: Term loan, due 2019 $ 58,125 $ 60,000 Revolving credit agreements, due 2019 159,520 159,963 217,645 219,963 Convertible Debt: 1.50% convertible notes, unsecured, due 2044 360,982 358,293 Other obligations 21,450 23,892 Total debt obligations 600,077 602,148 Unamortized debt issuance costs (7,702 ) (8,324 ) Carrying value of debt 592,375 593,824 Short-term debt obligations and current maturities of long-term debt obligations (30,142 ) (32,161 ) Long-term debt obligations $ 562,233 $ 561,663

Derivative Instruments and He24

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2017
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following table summarizes the fair value of the derivative instruments as recorded in the Consolidated Balance Sheets as of the dates below: Asset Derivatives Liability Derivatives Fair Value Fair Value (in thousands) Balance Sheet Location March 31, 2017 December 31, 2016 Balance Sheet Location March 31, 2017 December 31, 2016 Derivatives not designated as hedging instruments Foreign currency exchange contracts Other current assets $ 46,236 $ 75,307 Other current liabilities $ (36,359 ) $ (63,772 )
Offsetting Assets and Liabilities [Table Text Block]	The following tables summarize the gross and net fair value of derivative assets and liabilities as of March 31, 2017 and December 31, 2016 (in thousands): Offsetting of Derivative Assets Gross Amounts Not Offset in the Consolidated Balance Sheet As of March 31, 2017 Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments Cash Collateral Received Net Amounts Derivatives subject to a master netting arrangement or similar agreement $ 46,236 $ — $ 46,236 $ (25,701 ) $ (7,844 ) $ 12,691 As of December 31, 2016 Derivatives subject to a master netting arrangement or similar agreement $ 75,307 $ — $ 75,307 $ (49,752 ) $ (7,562 ) $ 17,993 Offsetting of Derivative Liabilities Gross Amounts Not Offset in the Consolidated Balance Sheet As of March 31, 2017 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments Cash Collateral Paid Net Amounts Derivatives subject to a master netting arrangement or similar agreement $ (36,359 ) $ — $ (36,359 ) $ 25,701 $ 1,484 $ (9,174 ) As of December 31, 2016 Derivatives subject to a master netting arrangement or similar agreement $ (63,772 ) $ — $ (63,772 ) $ 49,752 $ 1,106 $ (12,914 )
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following tables summarize the location and amount of losses on derivatives in the Consolidated Statements of Income for the three months ended March 31, 2017 and 2016 : Amount of Loss Recognized in Income on Derivative Contracts (a) Location of Loss Recognized in Income on Derivative Contracts Three Months Ended (in thousands) 2017 2016 Foreign currency exchange contracts Foreign currency exchange loss, net $ (4,659 ) $ (1,080 ) (a) The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its HiFX operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table details financial assets and liabilities measured and recorded at fair value on a recurring basis: As of March 31, 2017 (in thousands) Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Foreign currency exchange contracts Other current assets $ — $ 46,236 $ — $ 46,236 Liabilities Foreign currency exchange contracts Other current liabilities $ — $ (36,359 ) $ — $ (36,359 ) As of December 31, 2016 (in thousands) Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Foreign currency exchange contracts Other current assets $ — $ 75,307 $ — $ 75,307 Liabilities Foreign currency exchange contracts Other current liabilities $ — $ (63,772 ) $ — $ (63,772 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
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 three months ended March 31, 2017 and 2016 : For the Three Months Ended March 31, 2017 (in thousands) EFT Processing epay Money Transfer Corporate Services, Eliminations and Other Consolidated Total revenues $ 105,752 $ 164,169 $ 203,974 $ (515 ) $ 473,380 Operating expenses: Direct operating costs 62,073 126,160 108,885 (511 ) 296,607 Salaries and benefits 13,746 12,595 38,889 6,633 71,863 Selling, general and administrative 7,186 8,959 22,814 3,028 41,987 Depreciation and amortization 11,785 2,534 7,290 28 21,637 Total operating expenses 94,790 150,248 177,878 9,178 432,094 Operating income (expense) $ 10,962 $ 13,921 $ 26,096 $ (9,693 ) $ 41,286 For the Three Months Ended March 31, 2016 (in thousands) EFT Processing epay Money Transfer Corporate Services, Eliminations and Other Consolidated Total revenues $ 86,569 $ 170,105 $ 181,573 $ (353 ) $ 437,894 Operating expenses: Direct operating costs 46,747 130,162 95,070 (353 ) 271,626 Salaries and benefits 11,406 12,095 36,843 6,893 67,237 Selling, general and administrative 6,298 8,967 20,814 1,775 37,854 Depreciation and amortization 8,848 3,066 7,320 54 19,288 Total operating expenses 73,299 154,290 160,047 8,369 396,005 Operating income (expense) $ 13,270 $ 15,815 $ 21,526 $ (8,722 ) $ 41,889 The following table presents the Company’s property and equipment and total assets by reportable segment: Property and Equipment, net as of Total Assets as of (in thousands) March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 EFT Processing $ 153,382 $ 139,161 $ 891,592 $ 786,166 epay 24,176 23,939 552,096 733,514 Money Transfer 40,227 38,954 1,116,681 1,136,722 Corporate Services, Eliminations and Other 81 91 37,467 56,470 Total $ 217,866 $ 202,145 $ 2,597,836 $ 2,712,872

Recently Issued Accounting Pr27

Recently Issued Accounting Pronouncements New Accounting Pronouncements or Change in Accounting Principle (Details) - Accounting Standards Update 2016-09, Excess Tax Benefit Component [Member] $ in Millions	Jan. 01, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings	$ 40.2
Deferred Tax Assets, Gross	40.2
Deferred Tax Assets, Valuation Allowance	38.9
Net Cumulative Effect of New Accounting Principle in Period of Adoption	$ 1.3

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stockholders' Equity [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	969,000	418,000
Translation adjustment	$ 19,420	$ 34,702

Stockholders' Equity Earnings P

Stockholders' Equity Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic	52,345,944	52,685,765
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	1,706,342	1,698,945
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	869,493	144,878
Weighted Average Number of Shares Outstanding, Diluted	54,921,779	54,529,588

Goodwill and Acquired Intangi30

Goodwill and Acquired Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Finite-Lived Intangible Assets, Net	$ 161,075	$ 165,331
Finite-Lived Intangible Assets, Amortization Expense	(6,347)
Finite-lived intangible assets, other changes	2,091
Goodwill	698,511	689,713
Goodwill, Other Changes	8,798
Intangible Assets, Net (Including Goodwill)	859,586	$ 855,044
Total intangible assets amortization expense	(6,347)
Total intangible assets, other changes	10,889
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	17,700
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	21,900
Finite-Lived Intangible Assets, Amortization Expense, Year Two	21,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	20,200
Finite-Lived Intangible Assets, Amortization Expense, Year Four	19,300
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 18,300

Accrued Expenses and Other Cu31

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]
Accrued expenses	$ 229,538	$ 210,275
Accrued amounts due to mobile operators and other content providers	89,338	121,505
Money transfer settlement obligations	225,005	219,601
Derivative liabilities	36,359	63,772
Accrued expenses and other current liabilities	$ 580,240	$ 615,153

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Term Loan A	$ 58,125		$ 60,000
Revolving Credit Facility, Interest Rate at Period End	2.21%
Term Loan A, Weighted Average Interest Rate	2.36%
Debt Instrument, Face Amount	$ 402,500
Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.375%
Minimum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.375%
Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.375%
Maximum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.375%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 600,000
Term Loan A [Member]
Debt Instrument [Line Items]
Term Loan A	75,000
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 675,000
Credit Facility Expiration Date	Apr. 9, 2019
1.5% Issue [Member]
Debt Instrument [Line Items]
Interest Expense, Debt	$ 1,500	$ 1,500
Amortization of Debt Discount (Premium)	$ 2,700	$ 2,600
Debt Instrument, Interest Rate During Period	4.70%
Debt Instrument, Unamortized Discount	$ 41,500

Debt Obligations (Details)

Debt Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total Debt [Roll Forward]
Term Loan A	$ 58,125	$ 60,000
Revolving Credit Facility	159,520	159,963
Line of Credit Facility, Fair Value of Amount Outstanding	217,645	219,963
Convertible Debt	360,982	358,293
Other Debt	21,450	23,892
Debt, Long-term and Short-term, Combined Amount	600,077	602,148
Unamortized Debt Issuance Expense	(7,702)	(8,324)
Debt, net of debt issuance costs	592,375	593,824
Long-term Debt, Current Maturities	(30,142)	(32,161)
Debt obligations, net of current portion	$ 562,233	$ 561,663

Derivative Instruments and He34

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Ria Operations [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 211
Corporate Operations [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	86
HiFX Operations [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 1,300
Maximum [Member] | Ria Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency forward contract term	14 days
Trading Revenue [Member] | HiFX Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign Currency Exchange Margin	$ 15.7	$ 15.2

Derivative Instruments and He35

Derivative Instruments and Hedging Activities (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Foreign Currency Derivative Instruments, Asset at Fair Value	$ 46,236	$ 75,307
Foreign Currency Derivative Instruments, Liability at Fair Value	$ (36,359)	$ (63,772)

Derivative Instruments and He36

Derivative Instruments and Hedging Activities (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]
Derivative Assets, Fair Value, Gross Assets	$ 46,236	$ 75,307
Gross Amount of Eligible Offsetting Recognized Derivative Liabilities	0	0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	46,236	75,307
Derivative Asset, Not Offset, Policy Election Deduction	(25,701)	(49,752)
Cash Collateral Received	(7,844)	(7,562)
Derivative Asset, Fair Value, Amount Offset Against Collateral	12,691	17,993
Derivative Liability, Fair Value, Gross Liability	(36,359)	(63,772)
Gross Amount of Eligible Offsetting Recognized Derivative Assets	0	0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	(36,359)	(63,772)
Derivative Liability, Not Offset, Policy Election Deduction	25,701	49,752
Cash Collateral Paid	1,484	1,106
Derivative Liability, Fair Value, Amount Offset Against Collateral	$ (9,174)	$ (12,914)

Derivative Instruments and He37

Derivative Instruments and Hedging Activities (Details 3) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Ria Operations and Corporate [Member] | Foreign Currency Gain (Loss) [Member]
Derivative Instruments, Loss [Line Items]
Gain (loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (4,659,000)	$ (1,080,000)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Debt, Fair Value Disclosures	$ 526,600	$ 475,100
Convertible Debt	360,982	358,293
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	46,236	75,307
Foreign Currency Contracts, Liability, Fair Value Disclosure	(36,359)	(63,772)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	0	0
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	46,236	75,307
Foreign Currency Contracts, Liability, Fair Value Disclosure	(36,359)	(63,772)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	0	0
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 0	$ 0

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)segment	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment	3
Revenues	$ 473,380	$ 437,894
Direct operating costs	296,607	271,626
Salaries and benefits	71,863	67,237
Selling, general and administrative	41,987	37,854
Depreciation and amortization	21,637	19,288
Total operating expenses	432,094	396,005
Operating income (expense)	41,286	41,889
Property, Plant and Equipment, Net	217,866		$ 202,145
Assets	2,597,836		2,712,872
Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	105,752	86,569
Direct operating costs	62,073	46,747
Salaries and benefits	13,746	11,406
Selling, general and administrative	7,186	6,298
Depreciation and amortization	11,785	8,848
Total operating expenses	94,790	73,299
Operating income (expense)	10,962	13,270
Property, Plant and Equipment, Net	153,382		139,161
Assets	891,592		786,166
Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	164,169	170,105
Direct operating costs	126,160	130,162
Salaries and benefits	12,595	12,095
Selling, general and administrative	8,959	8,967
Depreciation and amortization	2,534	3,066
Total operating expenses	150,248	154,290
Operating income (expense)	13,921	15,815
Property, Plant and Equipment, Net	24,176		23,939
Assets	552,096		733,514
Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	203,974	181,573
Direct operating costs	108,885	95,070
Salaries and benefits	38,889	36,843
Selling, general and administrative	22,814	20,814
Depreciation and amortization	7,290	7,320
Total operating expenses	177,878	160,047
Operating income (expense)	26,096	21,526
Property, Plant and Equipment, Net	40,227		38,954
Assets	1,116,681		1,136,722
Corporate Services, Eliminations and Other [Member]
Segment Reporting Information [Line Items]
Revenues	(515)	(353)
Direct operating costs	(511)	(353)
Salaries and benefits	6,633	6,893
Selling, general and administrative	3,028	1,775
Depreciation and amortization	28	54
Total operating expenses	9,178	8,369
Operating income (expense)	(9,693)	$ (8,722)
Property, Plant and Equipment, Net	81		91
Assets	$ 37,467		$ 56,470

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income taxes [Line Items]
Effective Income Tax Rate	24.20%	23.90%
Federal Statutory Income Tax Rate, Percent	35.00%	35.00%

Commitments (Details)

Commitments (Details) $ in Millions	Mar. 31, 2017USD ($)
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	$ 72.4
Revolving Credit Facility [Member]
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	46.3
Cash and Cash Equivalents [Member]
Other Commitments [Line Items]
Pledged Assets, Not Separately Reported, Other	3
Guarantee Type, Other [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	15.4
Performance Guarantee [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	21.1
Indemnification Agreement [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 288