Corpay (CPAY) 10-Q 10 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	FLT
Entity Registrant Name	FLEETCOR TECHNOLOGIES INC
Entity Central Index Key	1,175,454
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		92,075,492

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 384,175	$ 477,069
Restricted cash	129,354	135,144
Accounts receivable (less allowance for doubtful accounts of $22,400 and $23,842, respectively)	811,477	673,797
Securitized accounts receivable-restricted for securitization investors	764,000	675,000
Prepaid expenses and other current assets	57,857	74,889
Deferred income taxes	54,143	101,451
Total current assets	2,201,006	2,137,350
Property and equipment	146,978	135,062
Less accumulated depreciation and amortization	(73,816)	(61,499)
Net property and equipment	73,162	73,563
Goodwill	3,767,071	3,811,862
Other intangibles, net	2,338,148	2,437,367
Equity method investment	121,807	141,933
Other assets	73,477	72,431
Total assets	8,574,671	8,674,506
Current liabilities:
Accounts payable	815,544	716,676
Accrued expenses	160,983	178,375
Customer deposits	456,693	492,257
Securitization facility	764,000	675,000
Current portion of notes payable and lines of credit	482,342	749,764
Other current liabilities	42,038	84,546
Total current liabilities	2,721,600	2,896,618
Notes payable and other obligations, less current portion	2,112,245	2,168,953
Deferred income taxes	794,135	815,169
Other noncurrent liabilities	39,687	40,629
Total noncurrent liabilities	$ 2,946,067	$ 3,024,751
Commitments and contingencies (Note 11)
Stockholders' equity:
Common stock, $0.001 par value; 475,000,000 shares authorized; 120,056,359 shares issued and 91,947,247 shares outstanding at June 30, 2015; and 119,771,155 shares issued and 91,662,043 shares outstanding at December 31, 2014	$ 120	$ 120
Additional paid-in capital	1,899,688	1,852,442
Retained earnings	1,596,736	1,403,905
Accumulated other comprehensive loss	(243,143)	(156,933)
Less treasury stock (28,109,112 shares at June 30, 2015 and December 31, 2014)	(346,397)	(346,397)
Total stockholders' equity	2,907,004	2,753,137
Total liabilities and stockholders' equity	$ 8,574,671	$ 8,674,506

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 22,400	$ 23,842
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	475,000,000	475,000,000
Common stock, shares issued	120,056,359	119,771,155
Common stock, shares outstanding	91,947,247	91,662,043
Treasury stock, shares	28,109,112	28,109,112

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues, net	$ 404,605	$ 273,502	$ 820,771	$ 527,410
Expenses:
Merchant commissions	21,725	20,327	49,051	37,950
Processing	74,564	38,845	155,920	75,701
Selling	27,297	17,521	53,628	34,935
General and administrative	63,041	37,896	132,338	81,357
Depreciation and amortization	48,827	24,429	96,909	48,847
Operating income	169,151	134,484	332,925	248,620
Equity method investment loss	5,118	1,489	7,818	1,489
Other expense (income), net	653	(268)	2,513	276
Interest expense, net	18,089	5,308	37,655	10,769
Total other expense	23,860	6,529	47,986	12,534
Income before taxes	145,291	127,955	284,939	236,086
Provision for income taxes	46,613	39,406	92,108	72,428
Net income	$ 98,678	$ 88,549	$ 192,831	$ 163,658
Earnings per share:
Basic earnings per share	$ 1.07	$ 1.07	$ 2.10	$ 1.97
Diluted earnings per share	$ 1.05	$ 1.03	$ 2.05	$ 1.91
Weighted average shares outstanding:
Basic weighted average shares outstanding	91,904	82,996	91,828	82,867
Diluted weighted average shares outstanding	94,050	85,817	93,992	85,757

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 98,678	$ 88,549	$ 192,831	$ 163,658
Other comprehensive income:
Foreign currency translation gain (loss), net of tax	6,847	6,832	(86,210)	22,759
Total other comprehensive income (loss)	6,847	6,832	(86,210)	22,759
Total comprehensive income	$ 105,525	$ 95,381	$ 106,621	$ 186,417

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net income	$ 192,831	$ 163,658
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	15,096	9,673
Stock-based compensation	30,500	18,299
Provision for losses on accounts receivable	13,022	12,283
Amortization of deferred financing costs and discounts	3,517	1,062
Amortization of intangible assets	80,186	36,482
Amortization of premium on receivables	1,627	1,630
Deferred income taxes	(40,894)	2,032
Equity method investment loss	7,818	1,489
Other non-cash operating expenses	(772)
Changes in operating assets and liabilities (net of acquisitions):
Restricted cash	5,790	2,092
Accounts receivable	(233,528)	(197,667)
Prepaid expenses and other current assets	24	(8,285)
Other assets	(2,961)	(389)
Excess tax benefits related to stock-based compensation	(9,639)	(18,634)
Accounts payable, accrued expenses, income taxes and deferred revenue	135,795	133,996
Net cash provided by operating activities	198,412	157,721
Investing activities
Acquisitions, net of cash acquired	(7,954)	(189,850)
Purchases of property and equipment	(16,234)	(11,552)
Net cash used in investing activities	(24,188)	(201,402)
Financing activities
Excess tax benefits related to stock-based compensation	9,639	18,634
Proceeds from issuance of common stock	7,105	8,277
Borrowings on securitization facility, net	89,000	75,400
Deferred financing costs paid		(546)
Principal payments on notes payable	(51,750)	(13,750)
Borrowings from revolver - A Facility		142,330
Payments on revolver - A Facility	(276,818)	(262,377)
Payments on foreign revolver - B Facility		(7,337)
Borrowings from swing line of credit, net	9,441	41,522
Payment of contingent consideration	(39,808)
Other	(145)	(371)
Net cash (used in) provided by financing activities	(253,336)	1,782
Effect of foreign currency exchange rates on cash	(13,782)	1,436
Net decrease in cash and cash equivalents	(92,894)	(40,463)
Cash and cash equivalents, beginning of period	477,069	338,105
Cash and cash equivalents, end of period	384,175	297,642
Supplemental cash flow information
Cash paid for interest	38,883	12,797
Cash paid for income taxes	$ 30,234	$ 52,697

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation Throughout this report, the terms “our,” “we,” “us,” and the “Company” refers to FleetCor Technologies, Inc. and its subsidiaries. The Company prepared the accompanying interim consolidated financial statements in accordance with Rule 10-01 of Regulation S-X. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Foreign Currency Translation Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the rates of exchange in effect at period-end. The related translation adjustments are made directly to accumulated other comprehensive income. Income and expenses are translated at the average monthly rates of exchange in effect during the period. Gains and losses from foreign currency transactions of these subsidiaries are included in net income. The Company recognized a foreign exchange loss of $0.7 million for the three months ended June 30, 2015 and a foreign exchange gain of $0.3 million for the three months ended June 30, 2014. The Company recognized foreign exchange losses of $2.6 million and $0.2 million for the six months ended June 30, 2015 and 2014, respectively, which are recorded within other expense, net in the Unaudited Consolidated Statements of Income. Adoption of New Accounting Standards Going Concern In August 2013, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-15 “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern”, which requires entities to perform interim and annual assessments of the entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. This ASU is effective for fiscal years ending after December 15, 2016 and interim periods thereafter, with early adoption permitted. The Company’s adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows, as it is disclosure based. Discontinued Operations Reporting In April 2014, the FASB issued ASU 2014-08, “Discounted Operations Reporting” that changes the requirements for reporting discontinued operations. This update will have the impact of reducing the frequency of disposals reported as discontinued operations, by requiring such a disposal to represent a strategic shift that has a major effect on an entity’s operations and financial results. This update also expands the disclosures for discontinued operations, and requires new disclosures related to individually significant disposals that do not qualify as discontinued operations. The Company adopted this new guidance on January 1, 2015. The adoption of this ASU did not have a material impact on the results of operations, financial condition, or cash flows, as the Company did not have discontinued operations. Revenue Recognition In May 2014, the FASB issued ASC 606, “Revenue from Contracts with Customers”, which amends the guidance in former ASC 605, Revenue Recognition. This amended guidance requires revenue to be recognized in an amount that reflects the consideration to which the company expects to be entitled for those goods and services when the performance obligation has been satisfied. This amended guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and related cash flows arising from contracts with customers. The Company is currently evaluating the impact of the provisions of ASC 606. On July 10, 2015, the FASB approved a one year deferral, which would change the effective date of the new revenue recognition standard by one year. This ASU is effective for the Company for reporting periods beginning after December 15, 2017, but permits companies the option to adopt as of the original effective date. Stock-Based Payment Awards with Performance Targets In June 2014, the FASB issued ASU 2014-12, “Share-Based Payment Awards With Performance Targets That Are Attainable After the Requisite Service Period”, for companies that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The Company adopted this new guidance on January 1, 2015. This adoption of this ASU did not have a material impact on the results of operations, financial condition, or cash flows. Simplification of Guidance on Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, “Interest—Imputation of Interest”, which changes the presentation of debt issuance costs in financial statements as a direct deduction from the related debt liability rather than as an asset. This ASU is effective for the Company for fiscal years ending after December 15, 2015 and interim periods. Early adoption is permitted. While the adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows, it will impact the presentation on the Company’s balance sheet. As of June 30, 2015 and December 31, 2014, the Company had deferred financing costs of $20.7 million and $23.2 million, respectively.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Accounts Receivable	2. Accounts Receivable The Company maintains a $1.2 billion revolving trade accounts receivable Securitization Facility. Pursuant to the terms of the Securitization Facility, the Company transfers certain of its domestic receivables, on a revolving basis, to FleetCor Funding LLC (Funding) a wholly-owned bankruptcy remote subsidiary. In turn, Funding sells, without recourse, on a revolving basis, up to $1.2 billion of undivided ownership interests in this pool of accounts receivable to a multi-seller, asset-backed commercial paper conduit (Conduit). Funding maintains a subordinated interest, in the form of over-collateralization, in a portion of the receivables sold to the Conduit. Purchases by the Conduit are financed with the sale of highly-rated commercial paper. The Company utilizes proceeds from the sale of its accounts receivable as an alternative to other forms of debt, to reduce its overall borrowing costs. The Company has agreed to continue servicing the sold receivables for the financial institution at market rates, which approximates the Company’s cost of servicing. The Company retains a residual interest in the accounts receivable sold as a form of credit enhancement. The residual interest’s fair value approximates carrying value due to its short-term nature. Funding determines the level of funding achieved by the sale of trade accounts receivable, subject to a maximum amount. The Company’s accounts receivable and securitized accounts receivable include the following at June 30, 2015 and December 31, 2014 (in thousands): June 30, December 31, Gross domestic accounts receivable $ 378,314 $ 330,466 Gross domestic securitized accounts receivable 764,000 675,000 Gross foreign receivables 455,563 367,173 Total gross receivables 1,597,877 1,372,639 Less allowance for doubtful accounts (22,400 ) (23,842 ) Net accounts and securitized accounts receivable $ 1,575,477 $ 1,348,797 Foreign receivables are not included in the Company’s accounts receivable securitization program. At June 30, 2015 and December 31, 2014, there was $764 million and $675 million, respectively, of short-term debt outstanding under the Company’s accounts receivable Securitization Facility. A rollforward of the Company’s allowance for doubtful accounts related to accounts receivable for six months ended June 30 is as follows (in thousands): 2015 2014 Allowance for doubtful accounts beginning of period $ 23,842 $ 22,416 Add: Provision for bad debts 13,022 12,283 Less: Write-offs (14,464 ) (11,945 ) Allowance for doubtful accounts end of period $ 22,400 $ 22,754

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements Fair value is a market-based measurement that reflects assumptions that market participants would use in pricing an asset or liability. GAAP discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). These valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. As the basis for evaluating such inputs, a three-tier value hierarchy prioritizes the inputs used in measuring fair value as follows: • Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets. • Level 2: Observable inputs other than quoted prices that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets; quoted prices for similar or identical assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following table presents the Company’s financial assets and liabilities which are measured at fair values on a recurring basis as of June 30, 2015 and December 31, 2014, (in thousands). Fair Value Level 1 Level 2 Level 3 June 30, 2015 Assets: Repurchase agreements $ 140,826 $ — $ 140,826 $ — Money market 55,004 — 55,004 — Certificates of deposit 6,438 — 6,438 — Total cash equivalents $ 202,268 $ — $ 202,268 $ — Fair Value Level 1 Level 2 Level 3 December 31, 2014 Assets: Repurchase agreements $ 196,616 $ — $ 196,616 $ — Money market 50,000 — 50,000 — Certificates of deposit 3,570 — 3,570 — Total cash equivalents $ 250,186 $ — $ 250,186 $ — Liabilities: Acquisition related contingent consideration $ 43,486 $ — $ — $ 43,486 The Company has highly liquid investments classified as cash equivalents, with original maturities of 90 days or less, included in our Consolidated Balance Sheets. The Company utilizes Level 2 fair value determinations derived from directly or indirectly observable (market based) information to determine the fair value of these highly liquid investments. The Company has certain cash and cash equivalents that are invested on an overnight basis in repurchase agreements, money markets and certificates of deposit. The value of overnight repurchase agreements is determined based upon the quoted market prices for the treasury securities associated with the repurchase agreements. Certificates of deposit are valued at cost, plus interest accrued. Given the short term nature of these instruments, the carrying value approximates fair value. The level within the fair value hierarchy and the measurement technique are reviewed quarterly. Transfers between levels are deemed to have occurred at the end of the quarter. There were no transfers between fair value levels during the periods presented for 2015 and 2014. The Company’s nonfinancial assets that are measured at fair value on a nonrecurring basis in connection with periodic testing for impairment include property, plant and equipment, equity method investment, goodwill and other intangible assets. As necessary, the Company generally uses projected cash flows, discounted as appropriate, to estimate the fair values of the assets using key inputs such as management’s projections of cash flows on a held-and-used basis (if applicable), management’s projections of cash flows upon disposition and discount rates. Accordingly, these fair value measurements are in Level 3 of the fair value hierarchy. These assets and liabilities are recognized at fair value on a nonrecurring basis if an impairment is identified. The carrying value of the Company’s cash, accounts receivable, securitized accounts receivable and related facility, prepaid expenses and other current assets, accounts payable, accrued expenses, customer deposits and short-term borrowings approximate their respective carrying values due to the short-term maturities of the instruments. The carrying value of the Company’s debt obligations approximates fair value as the interest rates on the debt are variable market based interest rates that reset on a quarterly basis. These are each level 2 fair value measurements, except for cash, which is a level 1 fair value measurement.

Share Based Compensation

Share Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share Based Compensation	4. Share Based Compensation The Company has Stock Incentive Plans (the Plans) pursuant to which the Company’s board of directors may grant stock options or restricted stock to employees. The table below summarizes the expense recognized related to share-based payments recognized for the three and six month periods ended June 30 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Stock options $ 4,484 $ 2,889 $ 8,842 $ 6,300 Restricted stock 9,065 4,798 21,658 11,999 Stock-based compensation $ 13,549 $ 7,687 $ 30,500 $ 18,299 The tax benefits recorded on stock based compensation were $10.8 million and $6.2 million for the six month periods ended June 30, 2015 and 2014, respectively. The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation as of June 30, 2015 (in thousands): Unrecognized Weighted Average Stock options $ 71,153 1.80 Restricted stock 19,811 1.29 Total $ 90,964 Stock Options Stock options are granted with an exercise price estimated to be equal to the fair market value on the date of grant as authorized by the Company’s board of directors. Options granted have vesting provisions ranging from one to six years. Certain stock option awards also have performance vesting provisions. Stock option grants are generally subject to forfeiture if employment terminates prior to vesting. The following summarizes the changes in the number of shares of common stock under option for the six month period ended June 30, 2015 (shares and aggregate intrinsic value in thousands): Shares Weighted Options Weighted Weighted Aggregate Outstanding at December 31, 2014 5,131 $ 58.71 2,370 $ 21.75 $ 461,770 Granted 271 155.95 $ 38.07 Exercised (209 ) 33.90 25,541 Forfeited (25 ) 105.36 Outstanding at June 30, 2015 5,168 $ 64.60 2,476 $ 23.68 $ 472,719 Expected to vest as of June 30, 2015 5,168 $ 64.60 The aggregate intrinsic value of stock options exercisable at June 30, 2015 was $327.8 million. The weighted average contractual term of options exercisable at June 30, 2015 was 5.4 years. The fair value of stock option awards granted was estimated using the Black-Scholes option pricing model during the six months ended June 30, 2015 and 2014, with the following weighted-average assumptions for grants during the period. June 30 2015 2014 Risk-free interest rate 1.28 % 0.90 % Dividend yield — — Expected volatility 28.47 % 34.92 % Expected life (in years) 4.0 3.8 Restricted Stock Awards of restricted stock and restricted stock units are independent of stock option grants and are generally subject to forfeiture if employment terminates prior to vesting. The vesting of the restricted stock and restricted stock units granted is generally based on the passage of time, performance or market conditions. Shares vesting based on the passage of time have vesting provisions ranging from one to four years. The following table summarizes the changes in the number of shares of restricted stock and restricted stock units for the six months ended June 30, 2015 (shares in thousands): Shares Weighted Unvested at December 31, 2014 716 $ 121.38 Granted 89 155.65 Vested (100 ) 123.33 Cancelled (5 ) 35.78 Unvested at June 30, 2015 700 $ 126.67

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions	5. Acquisitions For the six months ended June 30, 2015, the Company completed acquisitions with an aggregate purchase price of $5.9 million and has made deferred payments of purchase price of $2.1 million related to 2014 and 2013 acquisitions. 2014 Acquisitions During 2014, the Company completed acquisitions with an aggregate purchase price of $3.67 billion, net of cash acquired of $165.8 million. Comdata On November 14, 2014, the Company acquired Comdata Inc. (“Comdata”) from Ceridian LLC, a portfolio company of funds affiliated with Thomas H. Lee Partners, L.P. (“THL”) and Fidelity National Financial Inc. (NYSE: FNF), for $3.42 billion, net of cash acquired. Comdata is a business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, Comdata provides fleet, virtual card and gift card solutions. This acquisition will complement the Company’s current fuel card business in the U.S. and add a new product with the virtual payments business. FleetCor financed the acquisition with approximately $2.4 billion of new debt and the issuance of approximately 7.6 million shares of FleetCor common stock, including amounts applied at the closing to the repayment of Comdata’s debt. Results from the acquired business have been reported in the Company’s North America segment since the date of acquisition. The following table summarizes the preliminary acquisition accounting for Comdata (in thousands): Restricted cash $ 93,312 Trade and other receivables 634,335 Prepaid expenses and other 16,077 Property and equipment 17,984 Goodwill 2,264,174 Other intangible assets 1,630,700 Notes and other liabilities assumed (802,273 ) Deferred tax liabilities (427,193 ) Other long term liabilities (6,841 ) Aggregate purchase price $ 3,420,275 Acquisition accounting adjustments recorded during the six months ended June 30, 2015 relate to our businesses acquisitions completed in 2014 and included reallocation of certain deferred tax liabilities among certain of the Comdata entities and a change in the estimated fair value of acquired accounts receivable. These adjustments recorded in 2015 did not have a significant impact on the 2014 consolidated income statement, balance sheet or statement of cash flows, thus the Company has not recast these statements. The preliminary fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands): Useful Lives Value Customer relationships 19 $ 1,269,700 Trade names and trademarks—indefinite N/A 237,100 Software 4 – 7 123,300 Non-competes 3 600 $ 1,630,700 The acquisition accounting related to this acquisition is preliminary as the Company is still completing the valuation for intangible assets, income taxes, certain acquired contingencies, off market contract reviews and the working capital adjustment period remains open. Goodwill recognized is comprised primarily of expected synergies from combining the operations of the Company and Comdata and assembled workforce. The goodwill acquired with this business is not deductible for tax purposes. Other During 2014, the Company acquired Pacific Pride, a U.S. fuel card business, and a fuel card business from Shell in Germany. The following table summarizes the preliminary acquisition accounting for these acquisitions during 2014 (in thousands): Trade and other receivables $ 62,604 Prepaid expenses and other 232 Property and equipment 71 Goodwill 32,833 Other intangible assets 47,992 Notes and other liabilities assumed (66,499 ) Aggregate purchase price $ 77,233 The preliminary estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands): Useful Lives Value Customer relationships 8 $ 15,592 Trade names and trademarks—indefinite N/A 2,900 Franchisee Agreements 20 29,500 $ 47,992 The acquisition accounting for these transactions is preliminary as the Company is still completing the valuation for intangible assets and certain acquired contingencies and the working capital adjustment period remains open. These acquisitions were not material individually or in the aggregate to the Company’s consolidated financial statements.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets A summary of changes in the Company’s goodwill by reportable business segment is as follows (in thousands): December 31, Acquisition Foreign June 30, Segment North America $ 2,659,417 $ (5,569 ) $ — $ 2,653,848 International 1,152,445 — (39,222 ) 1,113,223 $ 3,811,862 (5,569 ) $ (39,222 ) $ 3,767,071 As of June 30, 2015 and December 31, 2014 other intangible assets consisted of the following (in thousands): June 30, 2015 December 31, 2014 Weighted- Lives (Years) Gross Accumulated Net Gross Accumulated Net Customer and vendor agreements 18.4 $ 2,124,658 $ (267,629 ) $ 1,857,029 $ 2,139,339 $ (205,365 ) $ 1,933,974 Trade names and trademarks—indefinite lived N/A 335,149 — 335,149 337,467 — 337,467 Trade names and trademarks—other 14.5 3,314 (1,953 ) 1,361 3,332 (1,847 ) 1,485 Software 5.1 173,602 (37,914 ) 135,688 174,507 (21,511 ) 152,996 Non-compete agreements 5.6 16,613 (7,692 ) 8,921 17,724 (6,279 ) 11,445 Total other intangibles $ 2,653,336 $ (315,188 ) 2,338,148 $ 2,672,369 $ (235,002 ) $ 2,437,367 Changes in foreign exchange rates resulted in a $24.5 million decrease to the carrying values of other intangible assets in the six months ended June 30, 2015. Amortization expense related to intangible assets for the six months ended June 30, 2015 and 2014 was $80.2 million and $36.5 million, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	7. Debt The Company’s debt instruments consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands): June 30, December 31, Term note payable—domestic(a) $ 2,210,227 $ 2,261,005 Revolving line of credit A Facility—domestic(a) 370,000 595,000 Revolving line of credit A Facility—foreign(a) — 53,204 Revolving line of credit A Facility—swing line(a) 10,741 — Other debt(c) 3,619 9,508 Total notes payable and other obligations 2,594,587 2,918,717 Securitization Facility(b) 764,000 675,000 Total notes payable, credit agreements and Securitization Facility $ 3,358,587 $ 3,593,717 Current portion $ 1,246,342 $ 1,424,764 Long-term portion 2,112,245 2,168,953 Total notes payable, credit agreements and Securitization Facility $ 3,358,587 $ 3,593,717 (a) On October 24, 2014, the Company entered into a new $3.355 billion Credit Agreement, which provides for senior secured credit facilities consisting of (a) a revolving A credit facility in the amount of $1.0 billion, with sublimits for letters of credit, swing line loans and multicurrency borrowings, (b) a revolving B facility in the amount of $35 million for loans in Australian Dollars or New Zealand Dollars, (c) a term loan A facility in the amount of $2.02 billion and (d) a term loan B facility in the amount $300 million. The Credit Agreement also contains an accordion feature for borrowing an additional $500 million in term A or revolver A and term B. Interest on amounts outstanding under the Credit Agreement (other than the term loan B facility) accrues based on the British Bankers Association LIBOR Rate (the Eurocurrency Rate), plus a margin based on a leverage ratio, or our option, the Base Rate (defined as the rate equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the prime rate announced by Bank of America, N.A., or (c) the Eurocurrency Rate plus 1.00%) plus a margin based on a leverage ratio. Interest is payable quarterly in arrears. Interest on the term loan B facility accrues based on the Eurocurrency Rate or the Base Rate, as described above, except that the applicable margin is fixed at 3% for Eurocurency Loans and at 2% for Base Rate Loans. In addition, the Company pays a quarterly commitment fee at a rate per annum ranging from 0.20% to 0.40% of the daily unused portion of the credit facility. The stated maturity dates for the term loan A, revolving loans, and letters of credit under the New Credit Agreement is November 14, 2019 and November 14, 2021 for the term loan B. The Company has unamortized debt discounts of $6.7 million related to the term A facility and $1.3 million related to the term B facility at June 30, 2015. (b) The Company is party to a $1.2 billion receivables purchase agreement (Securitization Facility) that was amended and restated for the fifth time on November 14, 2014 in connection with the Comdata acquisition. There is a program fee equal to one month LIBOR and the Commercial Paper Rate of 0.21% plus 0.90% and 0.18% plus 0.90% as of June 30, 2015 and December 31, 2014, respectively. The unused facility fee is payable at a rate of 0.40% per annum as of June 30, 2015 and December 31, 2014. (c) Other debt includes other deferred liabilities associated with certain of our businesses and is recorded within notes payable and other obligations, less current portion in the consolidated Balance Sheets. The Company was in compliance with all financial and non-financial covenants at June 30, 2015.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The provision for income taxes differs from amounts computed by applying the U.S. federal tax rate of 35% to income before income taxes for the three months ended June 30, 2015 and 2014 due to the following (in thousands): 2015 2014 Computed “expected” tax expense $ 50,852 35.0 % $ 44,784 35.0 % Changes resulting from: Foreign income tax differential (5,747 ) (4.0 ) (5,761 ) (4.5 ) State taxes net of federal benefits 2,022 1.4 1,466 1.2 Foreign-sourced nontaxable income (4,061 ) (2.8 ) (3,484 ) (2.7 ) Other 3,547 2.5 2,401 1.8 Provision for income taxes $ 46,613 32.1 % $ 39,406 30.8 %

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	9. Earnings Per Share The Company reports basic and diluted earnings per share. Basic earnings per share is computed by dividing net income attributable to shareholders of the Company by the weighted average number of common shares outstanding during the reported period. Diluted earnings per share reflect the potential dilution related to equity-based incentives using the treasury stock method. The calculation and reconciliation of basic and diluted earnings per share for the three months ended June 30 (in thousands, except per share data) follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 Net income $ 98,678 $ 88,549 $ 192,831 $ 163,658 Denominator for basic and diluted earnings per share: Denominator for basic earnings per share 91,904 82,996 91,828 82,867 Dilutive securities 2,146 2,821 2,164 2,890 Denominator for diluted earnings per share 94,050 85,817 93,992 85,757 Basic earnings per share $ 1.07 $ 1.07 $ 2.10 $ 1.97 Diluted earnings per share $ 1.05 $ 1.03 $ 2.05 $ 1.91 Basic shares includes the impact of share-based payment awards classified as participating securities, which are not material to the calculation of basic shares. Diluted earnings per share for the three month period ended June 30, 2015 excludes the effect of 31 thousand shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive. There were no antidilutive shares during the three or six month periods ended June 30, 2014. Diluted earnings per share for the three month period ended June 30, 2015 also excludes the effect of 0.5 million shares of performance based restricted stock, respectively, for which the performance criteria have not yet been achieved.

Segments

Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segments	10. Segments The Company reports information about its operating segments in accordance with the authoritative guidance related to segments. The Company’s reportable segments represent components of the business for which separate financial information is evaluated regularly by the chief operating decision maker in determining how to allocate resources and in assessing performance. The Company operates in two reportable segments, North America and International. Certain operating segments are aggregated in both our North America and International reportable segments. The Company has aggregated these operating segments due to commonality of the products in each of their business lines having similar economic characteristics, services, customers and processes. There were no significant intersegment sales. The Company’s segment results are as follows as of and for the three and six month periods ended June 30 (in thousands): Three months ended Six months ended 2015 2014 2015 2014 Revenues, net: North America $ 284,576 $ 138,861 $ 583,389 $ 265,236 International 120,029 134,641 237,382 262,174 $ 404,605 $ 273,502 $ 820,771 $ 527,410 Operating income: North America $ 109,584 $ 68,317 $ 219,350 $ 124,514 International 59,567 66,167 113,575 124,106 $ 169,151 $ 134,484 $ 332,925 $ 248,620 Depreciation and amortization: North America $ 32,021 $ 6,376 $ 63,943 $ 13,012 International 16,806 18,053 32,966 35,835 $ 48,827 $ 24,429 $ 96,909 $ 48,847 Capital expenditures: North America $ 3,793 $ 1,840 $ 8,017 $ 3,836 International 4,336 4,128 8,217 7,716 $ 8,129 $ 5,968 $ 16,234 $ 11,552

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies In the ordinary course of business, the Company is involved in various pending or threatened legal actions. The Company has recorded reserves for certain legal proceedings. The amounts recorded are estimated and as additional information becomes available, the Company will reassess the potential liability related to its pending litigation and revise its estimate in the period that information becomes known. In the opinion of management, the amount of ultimate liability, if any, with respect to these actions will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Throughout this report, the terms “our,” “we,” “us,” and the “Company” refers to FleetCor Technologies, Inc. and its subsidiaries. The Company prepared the accompanying interim consolidated financial statements in accordance with Rule 10-01 of Regulation S-X. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the rates of exchange in effect at period-end. The related translation adjustments are made directly to accumulated other comprehensive income. Income and expenses are translated at the average monthly rates of exchange in effect during the period. Gains and losses from foreign currency transactions of these subsidiaries are included in net income. The Company recognized a foreign exchange loss of $0.7 million for the three months ended June 30, 2015 and a foreign exchange gain of $0.3 million for the three months ended June 30, 2014. The Company recognized foreign exchange losses of $2.6 million and $0.2 million for the six months ended June 30, 2015 and 2014, respectively, which are recorded within other expense, net in the Unaudited Consolidated Statements of Income.
Adoption of New Accounting Standards	Adoption of New Accounting Standards Going Concern In August 2013, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-15 “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern”, which requires entities to perform interim and annual assessments of the entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. This ASU is effective for fiscal years ending after December 15, 2016 and interim periods thereafter, with early adoption permitted. The Company’s adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows, as it is disclosure based. Discontinued Operations Reporting In April 2014, the FASB issued ASU 2014-08, “Discounted Operations Reporting” that changes the requirements for reporting discontinued operations. This update will have the impact of reducing the frequency of disposals reported as discontinued operations, by requiring such a disposal to represent a strategic shift that has a major effect on an entity’s operations and financial results. This update also expands the disclosures for discontinued operations, and requires new disclosures related to individually significant disposals that do not qualify as discontinued operations. The Company adopted this new guidance on January 1, 2015. The adoption of this ASU did not have a material impact on the results of operations, financial condition, or cash flows, as the Company did not have discontinued operations. Revenue Recognition In May 2014, the FASB issued ASC 606, “Revenue from Contracts with Customers”, which amends the guidance in former ASC 605, Revenue Recognition. This amended guidance requires revenue to be recognized in an amount that reflects the consideration to which the company expects to be entitled for those goods and services when the performance obligation has been satisfied. This amended guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and related cash flows arising from contracts with customers. The Company is currently evaluating the impact of the provisions of ASC 606. On July 10, 2015, the FASB approved a one year deferral, which would change the effective date of the new revenue recognition standard by one year. This ASU is effective for the Company for reporting periods beginning after December 15, 2017, but permits companies the option to adopt as of the original effective date. Stock-Based Payment Awards with Performance Targets In June 2014, the FASB issued ASU 2014-12, “Share-Based Payment Awards With Performance Targets That Are Attainable After the Requisite Service Period”, for companies that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The Company adopted this new guidance on January 1, 2015. This adoption of this ASU did not have a material impact on the results of operations, financial condition, or cash flows. Simplification of Guidance on Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, “Interest—Imputation of Interest”, which changes the presentation of debt issuance costs in financial statements as a direct deduction from the related debt liability rather than as an asset. This ASU is effective for the Company for fiscal years ending after December 15, 2015 and interim periods. Early adoption is permitted. While the adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows, it will impact the presentation on the Company’s balance sheet. As of June 30, 2015 and December 31, 2014, the Company had deferred financing costs of $20.7 million and $23.2 million, respectively.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Company's Accounts Receivable and Securitized Accounts Receivable	The Company’s accounts receivable and securitized accounts receivable include the following at June 30, 2015 and December 31, 2014 (in thousands): June 30, December 31, Gross domestic accounts receivable $ 378,314 $ 330,466 Gross domestic securitized accounts receivable 764,000 675,000 Gross foreign receivables 455,563 367,173 Total gross receivables 1,597,877 1,372,639 Less allowance for doubtful accounts (22,400 ) (23,842 ) Net accounts and securitized accounts receivable $ 1,575,477 $ 1,348,797
Allowance for Doubtful Accounts Related to Accounts Receivable	A rollforward of the Company’s allowance for doubtful accounts related to accounts receivable for six months ended June 30 is as follows (in thousands): 2015 2014 Allowance for doubtful accounts beginning of period $ 23,842 $ 22,416 Add: Provision for bad debts 13,022 12,283 Less: Write-offs (14,464 ) (11,945 ) Allowance for doubtful accounts end of period $ 22,400 $ 22,754

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value	The following table presents the Company’s financial assets and liabilities which are measured at fair values on a recurring basis as of June 30, 2015 and December 31, 2014, (in thousands). Fair Value Level 1 Level 2 Level 3 June 30, 2015 Assets: Repurchase agreements $ 140,826 $ — $ 140,826 $ — Money market 55,004 — 55,004 — Certificates of deposit 6,438 — 6,438 — Total cash equivalents $ 202,268 $ — $ 202,268 $ — Fair Value Level 1 Level 2 Level 3 December 31, 2014 Assets: Repurchase agreements $ 196,616 $ — $ 196,616 $ — Money market 50,000 — 50,000 — Certificates of deposit 3,570 — 3,570 — Total cash equivalents $ 250,186 $ — $ 250,186 $ — Liabilities: Acquisition related contingent consideration $ 43,486 $ — $ — $ 43,486

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Expense Related to Share-Based Payments	The table below summarizes the expense recognized related to share-based payments recognized for the three and six month periods ended June 30 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Stock options $ 4,484 $ 2,889 $ 8,842 $ 6,300 Restricted stock 9,065 4,798 21,658 11,999 Stock-based compensation $ 13,549 $ 7,687 $ 30,500 $ 18,299
Summary of Total Unrecognized Compensation Cost Related to Stock-Based Compensation	The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation as of June 30, 2015 (in thousands): Unrecognized Weighted Average Stock options $ 71,153 1.80 Restricted stock 19,811 1.29 Total $ 90,964
Summary of Changes in Number of Shares of Common Stock Under Option	The following summarizes the changes in the number of shares of common stock under option for the six month period ended June 30, 2015 (shares and aggregate intrinsic value in thousands): Shares Weighted Options Weighted Weighted Aggregate Outstanding at December 31, 2014 5,131 $ 58.71 2,370 $ 21.75 $ 461,770 Granted 271 155.95 $ 38.07 Exercised (209 ) 33.90 25,541 Forfeited (25 ) 105.36 Outstanding at June 30, 2015 5,168 $ 64.60 2,476 $ 23.68 $ 472,719 Expected to vest as of June 30, 2015 5,168 $ 64.60
Schedule of Weighted-Average Assumptions	The fair value of stock option awards granted was estimated using the Black-Scholes option pricing model during the six months ended June 30, 2015 and 2014, with the following weighted-average assumptions for grants during the period. June 30 2015 2014 Risk-free interest rate 1.28 % 0.90 % Dividend yield — — Expected volatility 28.47 % 34.92 % Expected life (in years) 4.0 3.8
Summary of Changes in Number of Shares of Restricted Stock and Restricted Stock Units	The following table summarizes the changes in the number of shares of restricted stock and restricted stock units for the six months ended June 30, 2015 (shares in thousands): Shares Weighted Unvested at December 31, 2014 716 $ 121.38 Granted 89 155.65 Vested (100 ) 123.33 Cancelled (5 ) 35.78 Unvested at June 30, 2015 700 $ 126.67

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2015
Comdata Inc. [Member]
Summary of Acquisition Accounting	The following table summarizes the preliminary acquisition accounting for Comdata (in thousands): Restricted cash $ 93,312 Trade and other receivables 634,335 Prepaid expenses and other 16,077 Property and equipment 17,984 Goodwill 2,264,174 Other intangible assets 1,630,700 Notes and other liabilities assumed (802,273 ) Deferred tax liabilities (427,193 ) Other long term liabilities (6,841 ) Aggregate purchase price $ 3,420,275
Summary of Preliminary Estimated Fair Value of Intangible Assets Acquired and the Related Estimated Useful Lives	The preliminary fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands): Useful Lives Value Customer relationships 19 $ 1,269,700 Trade names and trademarks—indefinite N/A 237,100 Software 4 – 7 123,300 Non-competes 3 600 $ 1,630,700
Other Acquisitions [Member]
Summary of Acquisition Accounting	The following table summarizes the preliminary acquisition accounting for these acquisitions during 2014 (in thousands): Trade and other receivables $ 62,604 Prepaid expenses and other 232 Property and equipment 71 Goodwill 32,833 Other intangible assets 47,992 Notes and other liabilities assumed (66,499 ) Aggregate purchase price $ 77,233
Summary of Preliminary Estimated Fair Value of Intangible Assets Acquired and the Related Estimated Useful Lives	The preliminary estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands): Useful Lives Value Customer relationships 8 $ 15,592 Trade names and trademarks—indefinite N/A 2,900 Franchisee Agreements 20 29,500 $ 47,992

Goodwill and Other Intangible23

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Goodwill by Reportable Business Segment	A summary of changes in the Company’s goodwill by reportable business segment is as follows (in thousands): December 31, Acquisition Foreign June 30, Segment North America $ 2,659,417 $ (5,569 ) $ — $ 2,653,848 International 1,152,445 — (39,222 ) 1,113,223 $ 3,811,862 (5,569 ) $ (39,222 ) $ 3,767,071
Schedule of Other Intangible Assets	As of June 30, 2015 and December 31, 2014 other intangible assets consisted of the following (in thousands): June 30, 2015 December 31, 2014 Weighted- Lives (Years) Gross Accumulated Net Gross Accumulated Net Customer and vendor agreements 18.4 $ 2,124,658 $ (267,629 ) $ 1,857,029 $ 2,139,339 $ (205,365 ) $ 1,933,974 Trade names and trademarks—indefinite lived N/A 335,149 — 335,149 337,467 — 337,467 Trade names and trademarks—other 14.5 3,314 (1,953 ) 1,361 3,332 (1,847 ) 1,485 Software 5.1 173,602 (37,914 ) 135,688 174,507 (21,511 ) 152,996 Non-compete agreements 5.6 16,613 (7,692 ) 8,921 17,724 (6,279 ) 11,445 Total other intangibles $ 2,653,336 $ (315,188 ) 2,338,148 $ 2,672,369 $ (235,002 ) $ 2,437,367

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Summary of Debt Instruments	The Company’s debt instruments consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands): June 30, December 31, Term note payable—domestic(a) $ 2,210,227 $ 2,261,005 Revolving line of credit A Facility—domestic(a) 370,000 595,000 Revolving line of credit A Facility—foreign(a) — 53,204 Revolving line of credit A Facility—swing line(a) 10,741 — Other debt(c) 3,619 9,508 Total notes payable and other obligations 2,594,587 2,918,717 Securitization Facility(b) 764,000 675,000 Total notes payable, credit agreements and Securitization Facility $ 3,358,587 $ 3,593,717 Current portion $ 1,246,342 $ 1,424,764 Long-term portion 2,112,245 2,168,953 Total notes payable, credit agreements and Securitization Facility $ 3,358,587 $ 3,593,717 (a) On October 24, 2014, the Company entered into a new $3.355 billion Credit Agreement, which provides for senior secured credit facilities consisting of (a) a revolving A credit facility in the amount of $1.0 billion, with sublimits for letters of credit, swing line loans and multicurrency borrowings, (b) a revolving B facility in the amount of $35 million for loans in Australian Dollars or New Zealand Dollars, (c) a term loan A facility in the amount of $2.02 billion and (d) a term loan B facility in the amount $300 million. The Credit Agreement also contains an accordion feature for borrowing an additional $500 million in term A or revolver A and term B. Interest on amounts outstanding under the Credit Agreement (other than the term loan B facility) accrues based on the British Bankers Association LIBOR Rate (the Eurocurrency Rate), plus a margin based on a leverage ratio, or our option, the Base Rate (defined as the rate equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the prime rate announced by Bank of America, N.A., or (c) the Eurocurrency Rate plus 1.00%) plus a margin based on a leverage ratio. Interest is payable quarterly in arrears. Interest on the term loan B facility accrues based on the Eurocurrency Rate or the Base Rate, as described above, except that the applicable margin is fixed at 3% for Eurocurency Loans and at 2% for Base Rate Loans. In addition, the Company pays a quarterly commitment fee at a rate per annum ranging from 0.20% to 0.40% of the daily unused portion of the credit facility. The stated maturity dates for the term loan A, revolving loans, and letters of credit under the New Credit Agreement is November 14, 2019 and November 14, 2021 for the term loan B. The Company has unamortized debt discounts of $6.7 million related to the term A facility and $1.3 million related to the term B facility at June 30, 2015. (b) The Company is party to a $1.2 billion receivables purchase agreement (Securitization Facility) that was amended and restated for the fifth time on November 14, 2014 in connection with the Comdata acquisition. There is a program fee equal to one month LIBOR and the Commercial Paper Rate of 0.21% plus 0.90% and 0.18% plus 0.90% as of June 30, 2015 and December 31, 2014, respectively. The unused facility fee is payable at a rate of 0.40% per annum as of June 30, 2015 and December 31, 2014. (c) Other debt includes other deferred liabilities associated with certain of our businesses and is recorded within notes payable and other obligations, less current portion in the consolidated Balance Sheets.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Summary of Provision for Income Taxes and U.S. Federal Tax Rate	The provision for income taxes differs from amounts computed by applying the U.S. federal tax rate of 35% to income before income taxes for the three months ended June 30, 2015 and 2014 due to the following (in thousands): 2015 2014 Computed “expected” tax expense $ 50,852 35.0 % $ 44,784 35.0 % Changes resulting from: Foreign income tax differential (5,747 ) (4.0 ) (5,761 ) (4.5 ) State taxes net of federal benefits 2,022 1.4 1,466 1.2 Foreign-sourced nontaxable income (4,061 ) (2.8 ) (3,484 ) (2.7 ) Other 3,547 2.5 2,401 1.8 Provision for income taxes $ 46,613 32.1 % $ 39,406 30.8 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Summary of Earnings Per Share, Basic and Diluted	The calculation and reconciliation of basic and diluted earnings per share for the three months ended June 30 (in thousands, except per share data) follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 Net income $ 98,678 $ 88,549 $ 192,831 $ 163,658 Denominator for basic and diluted earnings per share: Denominator for basic earnings per share 91,904 82,996 91,828 82,867 Dilutive securities 2,146 2,821 2,164 2,890 Denominator for diluted earnings per share 94,050 85,817 93,992 85,757 Basic earnings per share $ 1.07 $ 1.07 $ 2.10 $ 1.97 Diluted earnings per share $ 1.05 $ 1.03 $ 2.05 $ 1.91

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Company's Segment Results	The Company’s segment results are as follows as of and for the three and six month periods ended June 30 (in thousands): Three months ended Six months ended 2015 2014 2015 2014 Revenues, net: North America $ 284,576 $ 138,861 $ 583,389 $ 265,236 International 120,029 134,641 237,382 262,174 $ 404,605 $ 273,502 $ 820,771 $ 527,410 Operating income: North America $ 109,584 $ 68,317 $ 219,350 $ 124,514 International 59,567 66,167 113,575 124,106 $ 169,151 $ 134,484 $ 332,925 $ 248,620 Depreciation and amortization: North America $ 32,021 $ 6,376 $ 63,943 $ 13,012 International 16,806 18,053 32,966 35,835 $ 48,827 $ 24,429 $ 96,909 $ 48,847 Capital expenditures: North America $ 3,793 $ 1,840 $ 8,017 $ 3,836 International 4,336 4,128 8,217 7,716 $ 8,129 $ 5,968 $ 16,234 $ 11,552

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounting Policies [Abstract]
Foreign exchange gain (loss) recognized	$ (0.7)	$ 0.3	$ (2.6)	$ (0.2)
Deferred financing costs	$ 20.7		$ 20.7		$ 23.2

Accounts Receivable - Additiona

Accounts Receivable - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Receivables [Abstract]
Securitized accounts receivable facility	$ 1,200,000,000
Maximum undivided ownership interest pooled accounts receivable amount sold	1,200,000,000
Short-term debt outstanding	$ 764,000,000	$ 675,000,000

Accounts Receivable - Company's

Accounts Receivable - Company's Accounts Receivable and Securitized Accounts Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross domestic securitized accounts receivable	$ 764,000	$ 675,000
Accounts Receivable, Gross	1,597,877	1,372,639
Less allowance for doubtful accounts	(22,400)	(23,842)	$ (22,754)	$ (22,416)
Net accounts and securitized accounts receivable	1,575,477	1,348,797
Accounts Receivable Domestic [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	378,314	330,466
Accounts Receivable Foreign [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	$ 455,563	$ 367,173

Accounts Receivable - Allowance

Accounts Receivable - Allowance for Doubtful Accounts Related to Accounts Receivable (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Receivables [Abstract]
Allowance for doubtful accounts beginning of period	$ 23,842	$ 22,416
Provision for bad debts	13,022	12,283
Write-offs	(14,464)	(11,945)
Allowance for doubtful accounts end of period	$ 22,400	$ 22,754

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 202,268	$ 250,186
Acquisition related contingent consideration		43,486
Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	140,826	196,616
Money Markets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	55,004	50,000
Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	6,438	3,570
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	202,268	250,186
Level 2 [Member] | Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	140,826	196,616
Level 2 [Member] | Money Markets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	55,004	50,000
Level 2 [Member] | Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 6,438	3,570
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition related contingent consideration		$ 43,486

Share Based Compensation - Summ

Share Based Compensation - Summary of Expense Related to Share-Based Payments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 13,549	$ 7,687	$ 30,500	$ 18,299
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	4,484	2,889	8,842	6,300
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 9,065	$ 4,798	$ 21,658	$ 11,999

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefits recorded on stock based compensation	$ 10.8	$ 6.2
Aggregate intrinsic value of options exercisable	$ 327.8
Weighted average remaining contractual term of options exercisable (in years)	5 years 4 months 24 days
Minimum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting provisions (in years)	1 year
Minimum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting provisions (in years)	1 year
Maximum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting provisions (in years)	6 years
Maximum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of vesting provisions (in years)	4 years

Share Based Compensation - Su35

Share Based Compensation - Summary of Total Unrecognized Compensation Cost Related to Stock-Based Compensation (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 90,964
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 71,153
Weighted Average Period of Expense Recognition (in Years)	1 year 9 months 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 19,811
Weighted Average Period of Expense Recognition (in Years)	1 year 3 months 15 days

Share Based Compensation - Su36

Share Based Compensation - Summary of Changes in Number of Shares of Common Stock Under Option (Detail) - Jun. 30, 2015 - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares, Outstanding, Beginning Balance	5,131
Shares, Granted	271
Shares, Exercised	(209)
Shares, Forfeited	(25)
Shares, Outstanding, Ending Balance	5,168
Shares,Expected to vest	5,168
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 58.71
Weighted Average Exercise Price, Granted	155.95
Weighted Average Exercise Price, Exercised	33.90
Weighted Average Exercise Price, Forfeited	105.36
Weighted Average Exercise Price, Outstanding, Ending balance	64.60
Weighted Average Exercise Price, Expected to vest	$ 64.60
Options Exercisable at End of Period, Outstanding, Beginning Balance	2,370
Options Exercisable at End of Period, Outstanding, Ending Balance	2,476
Weighted Average Exercise Price of Exercisable Options, Outstanding, Beginning Balance	$ 21.75
Weighted Average Exercise Price of Exercisable Options, Outstanding, Ending Balance	23.68
Weighted Average Fair Value of Options Granted During the Period, Granted	$ 38.07
Aggregate Intrinsic Value, Outstanding, Beginning Balance	$ 461,770
Aggregate Intrinsic Value, Exercised	25,541
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 472,719

Share Based Compensation - Sche

Share Based Compensation - Schedule of Weighted-Average Assumptions (Detail) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.28%	0.90%
Dividend yield	0.00%	0.00%
Expected volatility	28.47%	34.92%
Expected life (in years)	4 years	3 years 9 months 18 days

Share Based Compensation - Su38

Share Based Compensation - Summary of Changes in Number of Shares of Restricted Stock and Restricted Stock Units (Detail) - 6 months ended Jun. 30, 2015 - $ / shares shares in Thousands	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares, Unvested, Beginning balance	716
Shares, Granted	89
Shares, Vested	(100)
Shares, Cancelled	(5)
Shares, Unvested, Ending balance	700
Weighted Average Grant Date Fair Value, Unvested, Beginning balance	$ 121.38
Weighted Average Grant Date Fair Value, Granted	155.65
Weighted Average Grant Date Fair Value, Vested	123.33
Weighted Average Grant Date Fair Value, Cancelled	35.78
Weighted Average Grant Date Fair Value, Unvested, Ending balance	$ 126.67

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions	Nov. 14, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Aggregate purchase price		$ 5,900
Deferred payments of previous acquisitions		2,100
Aggregate purchase price		$ 7,954	$ 189,850	$ 3,670,000
Cash acquired				$ 165,800
Issuance of new debt in acquisition	$ 2,400,000
Comdata Inc. [Member]
Business Acquisition [Line Items]
Aggregate purchase price	$ 3,420,000
Business acquisition date	Nov. 14, 2014
Ceridian Llc [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Common shares issued to finance acquisition	7.6

Acquisition - Summary of Purcha

Acquisition - Summary of Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Nov. 14, 2014
Business Acquisition [Line Items]
Goodwill	$ 3,767,071	$ 3,811,862
Comdata Inc. [Member]
Business Acquisition [Line Items]
Restricted cash			$ 93,312
Trade and other receivables			634,335
Prepaid expenses and other			16,077
Property and equipment			17,984
Goodwill			2,264,174
Other intangible assets			1,630,700
Notes and other liabilities assumed			(802,273)
Deferred tax liabilities			(427,193)
Other long term liabilities			(6,841)
Aggregate purchase price			$ 3,420,275
Other Acquisitions [Member]
Business Acquisition [Line Items]
Trade and other receivables		62,604
Prepaid expenses and other		232
Property and equipment		71
Goodwill		32,833
Other intangible assets		47,992
Notes and other liabilities assumed		(66,499)
Aggregate purchase price		$ 77,233

Acquisition - Summary of Prelim

Acquisition - Summary of Preliminary Estimated Fair Value of Intangible Assets Acquired and the Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Comdata Inc. [Member]
Business Acquisition [Line Items]
Intangible assets		$ 1,630,700
Comdata Inc. [Member] | Trade Names And Trademarks Indefinite Lived [Member]
Business Acquisition [Line Items]
Intangible assets		237,100
Other Acquisitions [Member]
Business Acquisition [Line Items]
Intangible assets		47,992
Other Acquisitions [Member] | Trade Names And Trademarks Indefinite Lived [Member]
Business Acquisition [Line Items]
Intangible assets		$ 2,900
Customer Relationships [Member] | Comdata Inc. [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)		19 years
Intangible assets		$ 1,269,700
Customer Relationships [Member] | Other Acquisitions [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)		8 years
Intangible assets		$ 15,592
Software [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)	5 years 1 month 6 days
Software [Member] | Comdata Inc. [Member]
Business Acquisition [Line Items]
Intangible assets		$ 123,300
Software [Member] | Comdata Inc. [Member] | Minimum [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)		4 years
Software [Member] | Comdata Inc. [Member] | Maximum [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)		7 years
Non-compete [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)	5 years 7 months 6 days
Non-compete [Member] | Comdata Inc. [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)		3 years
Intangible assets		$ 600
Franchisee Agreement [Member] | Other Acquisitions [Member]
Business Acquisition [Line Items]
Useful Lives (in Years)		20 years
Intangible assets		$ 29,500

Goodwill and Other Intangible42

Goodwill and Other Intangible Assets - Summary of Changes in Goodwill by Reportable Business Segment (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 3,811,862
Acquisitions	(5,569)
Foreign Currency	(39,222)
Goodwill, Ending Balance	3,767,071
North America [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	2,659,417
Acquisitions	(5,569)
Goodwill, Ending Balance	2,653,848
International [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	1,152,445
Foreign Currency	(39,222)
Goodwill, Ending Balance	$ 1,113,223

Goodwill and Other Intangible43

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amounts	$ 2,653,336	$ 2,672,369
Accumulated Amortization	(315,188)	(235,002)
Net Carrying Amount	2,338,148	2,437,367
Trade Names And Trademarks Indefinite Lived [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amounts	335,149	337,467
Net Carrying Amount	$ 335,149	337,467
Customer and Vendor Agreements [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Useful Lives (Years)	18 years 4 months 24 days
Gross Carrying Amounts	$ 2,124,658	2,139,339
Accumulated Amortization	(267,629)	(205,365)
Net Carrying Amount	$ 1,857,029	1,933,974
Trade Names and Trademarks [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Useful Lives (Years)	14 years 6 months
Gross Carrying Amounts	$ 3,314	3,332
Accumulated Amortization	(1,953)	(1,847)
Net Carrying Amount	$ 1,361	1,485
Software [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Useful Lives (Years)	5 years 1 month 6 days
Gross Carrying Amounts	$ 173,602	174,507
Accumulated Amortization	(37,914)	(21,511)
Net Carrying Amount	$ 135,688	152,996
Non-compete [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Useful Lives (Years)	5 years 7 months 6 days
Gross Carrying Amounts	$ 16,613	17,724
Accumulated Amortization	(7,692)	(6,279)
Net Carrying Amount	$ 8,921	$ 11,445

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 80,186	$ 36,482
Impact of foreign exchange rates on intangible assets	$ 24,500

Debt - Summary of Debt Instrume

Debt - Summary of Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Term note payable-domestic, net of discounts	$ 2,210,227	$ 2,261,005
Other debt	3,619	9,508
Total notes payable and other obligations	2,594,587	2,918,717
Securitization facility	764,000	675,000
Total notes payable, credit agreements and Securitization Facility	3,358,587	3,593,717
Current portion	1,246,342	1,424,764
Long-term portion	2,112,245	2,168,953
Domestic Line of Credit [Member]
Debt Instrument [Line Items]
Revolving line of credit	370,000	595,000
Foreign Revolving Line of Credit Facility A [Member]
Debt Instrument [Line Items]
Revolving line of credit		$ 53,204
Swing Line of Credit [Member]
Debt Instrument [Line Items]
Revolving line of credit	$ 10,741

Debt - Summary of Debt Instru46

Debt - Summary of Debt Instruments (Parenthetical) (Detail) - USD ($)	Oct. 24, 2014	Jun. 30, 2015	Dec. 31, 2014
Secured Debt [Member]
Debt Instrument [Line Items]
Borrowing limit on revolving line of credit	$ 3,355,000,000
Additional borrowing capacity	$ 500,000,000
Eurocurrency Rate Loans [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Fixed interest on line of credit	3.00%
Base Rate [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Fixed interest on line of credit	2.00%
Minimum [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Unused facility fee, as percentage of unused portion	0.20%
Minimum [Member] | Federal Funds Rate Plus [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Maximum [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Unused facility fee, as percentage of unused portion	0.40%
Maximum [Member] | Eurodollar [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving A Facility [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Borrowing limit on revolving line of credit	$ 1,000,000,000
Revolving B Facility [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Borrowing limit on revolving line of credit	35,000,000
Term Loan A [Member]
Debt Instrument [Line Items]
Debt maturity date		Nov. 14, 2019
Line of credit facility initial borrowing, unamortized debt discount		$ 6,700,000
Term Loan A [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Borrowing limit on revolving line of credit	2,020,000,000
Term Loan B [Member]
Debt Instrument [Line Items]
Debt maturity date		Nov. 14, 2021
Line of credit facility initial borrowing, unamortized debt discount		$ 1,300,000
Term Loan B [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Borrowing limit on revolving line of credit	$ 300,000,000
Securitization Facility [Member]
Debt Instrument [Line Items]
Unused facility fee, as percentage of unused portion		0.40%	0.40%
Program fee		One month LIBOR
Securitization Facility [Member] | First Amendment [Member]
Debt Instrument [Line Items]
Amended securitization facility		$ 1,200,000,000
Securitization Facility [Member] | Commercial Paper [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.90%	0.90%
Program fee rate		0.21%	0.18%

Income taxes - Additional Infor

Income taxes - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate, rate	35.00%	35.00%

Income Taxes - Summary of Provi

Income Taxes - Summary of Provision for Income Taxes and U.S. Federal Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Computed "expected" tax expense, amount	$ 50,852	$ 44,784
Foreign income tax differential, amount	(5,747)	(5,761)
State taxes net of federal benefits, amount	2,022	1,466
Foreign-sourced nontaxable income, amount	(4,061)	(3,484)
Other, amount	3,547	2,401
Provision for income taxes, amount	$ 46,613	$ 39,406	$ 92,108	$ 72,428
Computed "expected" tax expense, rate	35.00%	35.00%
Foreign income tax differential, rate	(4.00%)	(4.50%)
State taxes net of federal benefits, rate	1.40%	1.20%
Foreign-sourced nontaxable income, rate	(2.80%)	(2.70%)
Other, rate	2.50%	1.80%
Provision for income taxes, rate	32.10%	30.80%

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 98,678	$ 88,549	$ 192,831	$ 163,658
Denominator for basic and diluted earnings per share:
Denominator for basic earnings per share	91,904	82,996	91,828	82,867
Dilutive securities	2,146	2,821	2,164	2,890
Denominator for diluted earnings per share	94,050	85,817	93,992	85,757
Basic earnings per share	$ 1.07	$ 1.07	$ 2.10	$ 1.97
Diluted earnings per share	$ 1.05	$ 1.03	$ 2.05	$ 1.91

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted earnings per share excludes antidilutive effect		0		0
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted earnings per share excludes antidilutive effect			31,000
Performance Based Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted earnings per share excludes antidilutive effect	500,000

Segments - Additional Informati

Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Schedule of Company'

Segments - Schedule of Company's Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenues, net	$ 404,605	$ 273,502	$ 820,771	$ 527,410
Operating income	169,151	134,484	332,925	248,620
Depreciation and amortization	48,827	24,429	96,909	48,847
Capital expenditures	8,129	5,968	16,234	11,552
North America [Member]
Segment Reporting Information [Line Items]
Revenues, net	284,576	138,861	583,389	265,236
Operating income	109,584	68,317	219,350	124,514
Depreciation and amortization	32,021	6,376	63,943	13,012
Capital expenditures	3,793	1,840	8,017	3,836
International [Member]
Segment Reporting Information [Line Items]
Revenues, net	120,029	134,641	237,382	262,174
Operating income	59,567	66,167	113,575	124,106
Depreciation and amortization	16,806	18,053	32,966	35,835
Capital expenditures	$ 4,336	$ 4,128	$ 8,217	$ 7,716