Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'CARDTRONICS INC | ' | ' |
Entity Central Index Key | '0001277856 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Trading Symbol | 'catm | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 44,484,108 | ' |
Entity Public Float | ' | ' | $1,217,819,999 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $86,939 | $13,861 |
Accounts and notes receivable, net of allowance of $571 and $476 as of December 31, 2013 and 2012, respectively | 58,274 | 45,135 |
Inventory, net | 5,302 | 4,389 |
Restricted cash | 14,896 | 8,298 |
Current portion of deferred tax asset, net | 21,202 | 13,086 |
Prepaid expenses, deferred costs, and other current assets | 20,159 | 30,980 |
Total current assets | 206,772 | 115,749 |
Property and equipment, net | 270,966 | 236,238 |
Intangible assets, net | 161,615 | 102,573 |
Goodwill | 404,491 | 285,696 |
Deferred tax asset, net | 9,680 | 26,468 |
Prepaid expenses, deferred costs, and other noncurrent assets | 2,679 | 2,168 |
Total assets | 1,056,203 | 768,892 |
Current liabilities: | ' | ' |
Current portion of long-term debt and notes payable | 1,289 | 1,467 |
Current portion of other long-term liabilities | 35,597 | 27,220 |
Accounts payable | 38,981 | 21,593 |
Accrued liabilities | 137,776 | 80,112 |
Current portion of deferred tax liability, net | 1,152 | 1,179 |
Total current liabilities | 214,795 | 131,571 |
Long-term liabilities: | ' | ' |
Long-term debt | 489,225 | 353,352 |
Asset retirement obligation | 60,665 | 41,862 |
Deferred tax liability, net | 5,668 | 182 |
Other long-term liabilities | 38,736 | 93,121 |
Total liabilities | 809,089 | 620,088 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Common stock, $0.0001 par value; 125,000,000 shares authorized; 51,207,849 and 50,569,875 shares issued as of December 31, 2013 and 2012, respectively; 44,375,952 and 44,641,224 shares outstanding as of December 31, 2013 and 2012, respectively | 5 | 5 |
Additional paid-in capital | 330,862 | 252,956 |
Accumulated other comprehensive loss, net | -72,954 | -105,085 |
Retained earnings | 81,677 | 57,861 |
Treasury stock; 6,831,897 and 5,928,651 shares at cost as of December 31, 2013 and 2012, respectively | -90,679 | -58,270 |
Total parent stockholders' equity | 248,911 | 147,467 |
Noncontrolling interests | -1,797 | 1,337 |
Total stockholders' equity | 247,114 | 148,804 |
Total liabilities and stockholders' equity | $1,056,203 | $768,892 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Accounts and notes receivable, allowance | $571 | $476 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 125,000,000 | 125,000,000 |
Common stock, shares issued | 51,207,849 | 50,569,875 |
Common stock, shares outstanding | 44,375,952 | 44,641,224 |
Treasury stock, shares | 6,831,897 | 5,928,651 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Revenues: | ' | ' | ' | ||
ATM operating revenues | $854,196 | $743,662 | $597,219 | ||
ATM product sales and other revenues | 22,290 | 36,787 | 27,357 | ||
Total revenues | 876,486 | 780,449 | 624,576 | ||
Cost of revenues: | ' | ' | ' | ||
Cost of ATM operating revenues (excludes depreciation, accretion, and amortization shown separately below. See Note 1(b)) | 573,959 | 502,682 | 396,347 | ||
Cost of ATM product sales and other revenues | 21,328 | 33,405 | 23,768 | ||
Total cost of revenues | 595,287 | 536,087 | 420,115 | ||
Gross profit | 281,199 | [1] | 244,362 | [2] | 204,461 |
Operating expenses: | ' | ' | ' | ||
Selling, general, and administrative expenses | 84,592 | 65,525 | 55,582 | ||
Acquisition-related expenses | 15,400 | 3,332 | 4,747 | ||
Depreciation and accretion expense | 68,480 | 61,499 | 47,962 | ||
Amortization expense | 27,336 | 21,712 | 17,914 | ||
Loss on disposal of assets | 2,790 | 1,787 | 981 | ||
Total operating expenses | 198,598 | 153,855 | 127,186 | ||
Income from operations | 82,601 | 90,507 | 77,275 | ||
Other expense (income): | ' | ' | ' | ||
Interest expense, net | 21,155 | 21,161 | 20,116 | ||
Amortization of deferred financing costs and note discount | 1,931 | 896 | 993 | ||
Other income | -3,150 | -1,821 | -804 | ||
Total other expense | 19,936 | 20,236 | 20,305 | ||
Income before income taxes | 62,665 | 70,271 | 56,970 | ||
Income tax expense (benefit) | 42,018 | 27,009 | -13,176 | ||
Net income | 20,647 | 43,262 | 70,146 | ||
Net loss attributable to noncontrolling interests | -3,169 | -329 | -87 | ||
Net income attributable to controlling interests and available to common stockholders | $23,816 | $43,591 | $70,233 | ||
Net income per common share - basic | $0.52 | $0.97 | $1.60 | ||
Net income per common share - diluted | $0.52 | $0.96 | $1.58 | ||
Weighted average shares outstanding - basic | 44,371,313 | 43,469,175 | 42,201,491 | ||
Weighted average shares outstanding - diluted | 44,577,635 | 43,875,332 | 42,886,780 | ||
[1] | Excludes $20.0 million, $19.9 million, $22.8 million and $24.5B million of depreciation, accretion, and amortization for the quarters ended MarchB 31, JuneB 30, SeptemberB 30, and DecemberB 31, respectively. | ||||
[2] | Excludes $17.4 million, $18.2 million, $19.1 million and $20.0B million of depreciation, accretion, and amortization for the quarters ended MarchB 31, JuneB 30, SeptemberB 30, and DecemberB 31, respectively. |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $20,647 | $43,262 | $70,146 |
Unrealized gains (losses) on interest rate swap contracts, net of income tax expense (benefit) of $16,584, $(14,811) and $(11,219) for the years ended December 31, 2013, 2012, and 2011, respectively | 25,933 | -23,684 | -18,283 |
Foreign currency translation adjustments | 6,198 | 2,501 | -566 |
Other comprehensive income (loss) | 32,131 | -21,183 | -18,849 |
Total comprehensive income | 52,778 | 22,079 | 51,297 |
Less: comprehensive loss attributable to noncontrolling interests | -3,134 | -220 | -306 |
Comprehensive income attributable to controlling interests | $55,912 | $22,299 | $51,603 |
Consolidated_Statements_Of_Com1
Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ' |
Unrealized gains (losses) on interest rate swap contracts, tax (benefit) expense | $16,584 | ($14,811) | ($11,219) |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss, Net [Member] | Retained Earnings (Accumulated Deficit) [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Total |
In Thousands, except Share data | |||||||
Balance at Dec. 31, 2010 | $4 | $213,754 | ($65,053) | ($55,963) | ($50,351) | $1,863 | $44,254 |
Balance, shares at Dec. 31, 2010 | 42,833,000 | ' | ' | ' | ' | ' | ' |
Issuance of common stock for stock-based compensation, net of forfeitures | ' | 11,640 | ' | ' | ' | ' | 11,640 |
Issuance of common stock for stock-based compensation, net of forfeitures, shares | 1,322,000 | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | -3,149 | ' | -3,149 |
Repurchase of common stock, shares | -156,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation charges | ' | 9,322 | ' | ' | ' | ' | 9,322 |
Unrealized gain (losses) on interest rate swaps, net of tax | ' | ' | -18,283 | ' | ' | ' | -18,283 |
Net income attributable to controlling interests | ' | ' | ' | 70,233 | ' | ' | 70,233 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | -87 | -87 |
Foreign currency translation adjustments | ' | ' | -566 | ' | ' | -219 | -785 |
Balance at Dec. 31, 2011 | 4 | 234,716 | -83,902 | 14,270 | -53,500 | 1,557 | 113,145 |
Balance, shares at Dec. 31, 2011 | 43,999,000 | ' | ' | ' | ' | ' | ' |
Issuance of common stock for stock-based compensation, net of forfeitures | 1 | 7,124 | ' | ' | ' | ' | 7,125 |
Issuance of common stock for stock-based compensation, net of forfeitures, shares | 818,000 | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | -4,770 | ' | -4,770 |
Repurchase of common stock, shares | -176,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation charges | ' | 11,116 | ' | ' | ' | ' | 11,116 |
Unrealized gain (losses) on interest rate swaps, net of tax | ' | ' | -23,684 | ' | ' | ' | -23,684 |
Net income attributable to controlling interests | ' | ' | ' | 43,591 | ' | ' | 43,591 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | -329 | -329 |
Foreign currency translation adjustments | ' | ' | 2,501 | ' | ' | 109 | 2,610 |
Balance at Dec. 31, 2012 | 5 | 252,956 | -105,085 | 57,861 | -58,270 | 1,337 | 148,804 |
Balance, shares at Dec. 31, 2012 | 44,641,000 | ' | ' | ' | ' | ' | 44,641,224 |
Issuance of common stock for stock-based compensation, net of forfeitures | ' | 2,625 | ' | ' | ' | ' | 2,625 |
Issuance of common stock for stock-based compensation, net of forfeitures, shares | 566,000 | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | -32,409 | ' | -32,409 |
Repurchase of common stock, shares | -831,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation charges | ' | 12,303 | ' | ' | ' | ' | 12,303 |
Excess tax benefit from stock-based compensation expense | ' | 24,007 | ' | ' | ' | ' | 24,007 |
Equity portion of convertible senior notes, note hedges, and warrants, net of taxes and deferred financing costs | ' | 38,971 | ' | ' | ' | ' | 38,971 |
Unrealized gain (losses) on interest rate swaps, net of tax | ' | ' | 25,933 | ' | ' | ' | 25,933 |
Net income attributable to controlling interests | ' | ' | ' | 23,816 | ' | ' | 23,816 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | -3,169 | -3,169 |
Foreign currency translation adjustments | ' | ' | 6,198 | ' | ' | 35 | 6,233 |
Balance at Dec. 31, 2013 | $5 | $330,862 | ($72,954) | $81,677 | ($90,679) | ($1,797) | $247,114 |
Balance, shares at Dec. 31, 2013 | 44,376,000 | ' | ' | ' | ' | ' | 44,375,952 |
Consolidated_Statements_Of_Sto1
Consolidated Statements Of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Consolidated Statements Of Comprehensive Income [Abstract] | ' |
Unrealized gains (losses) on interest rate swap contracts, tax (benefit) expense | $16,584 |
Equity portion of convertible senior notes, deferred tax assets | 995 |
Deferred financing cost allocated to equity | $1,671 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $20,647 | $43,262 | $70,146 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation, accretion, and amortization expense | 95,816 | 83,211 | 65,876 |
Amortization of deferred financing costs and note discount | 1,931 | 896 | 993 |
Stock-based compensation expense | 12,324 | 11,110 | 9,324 |
Deferred income taxes | 8,533 | 25,694 | -14,864 |
Loss on disposal of assets | 2,790 | 1,787 | 981 |
Other reserves and non-cash items | 4,812 | 1,786 | -805 |
Changes in assets and liabilities: | ' | ' | ' |
Increase in accounts and notes receivable, net | -11,087 | -3,564 | -17,730 |
Decrease (increase) in prepaid, deferred costs, and other current assets | 15,504 | -18,922 | -615 |
Increase in inventory | -1,943 | -2,436 | -2,264 |
(Increase) decrease in other assets | -1,503 | 18,487 | -17,865 |
Increase (decrease) in accounts payable | 12,804 | -12,409 | 4,556 |
Increase (decrease) in accrued liabilities | 29,722 | -6,203 | 19,804 |
Decrease in other liabilities | -6,793 | -6,311 | -4,212 |
Net cash provided by operating activities | 183,557 | 136,388 | 113,325 |
Cash flows from investing activities: | ' | ' | ' |
Additions to property and equipment | -71,562 | -89,579 | -64,418 |
Payments for exclusive license agreements, site acquisition costs and other intangible assets | -5,591 | -3,224 | -2,468 |
Acquisitions, net of cash acquired | -189,587 | -20,961 | -167,568 |
Net cash used in investing activities | -266,740 | -113,764 | -234,454 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from borrowings of long-term debt | 311,277 | 245,100 | 381,738 |
Repayments of long-term debt and capital leases | -397,667 | -261,596 | -264,991 |
Repayments of borrowings under bank overdraft facility, net | ' | -162 | -830 |
Proceeds from issuance of convertible notes | 287,500 | ' | ' |
Proceeds from issuance of warrants | 40,509 | ' | ' |
Purchase of convertible note hedges | -72,565 | ' | ' |
Debt issuance and modification costs | -7,540 | ' | -655 |
Payment of contingent acquisition consideration | -750 | ' | ' |
Proceeds from exercises of stock options | 2,626 | 7,344 | 11,420 |
Excess tax benefit from stock-based compensation expense | 24,007 | ' | ' |
Repurchase of capital stock | -32,409 | -4,770 | -3,150 |
Net cash provided by (used in) financing activities | 154,988 | -14,084 | 123,532 |
Effect of exchange rate changes on cash | 1,273 | -255 | -16 |
Net increase in cash and cash equivalents | 73,078 | 8,285 | 2,387 |
Cash and cash equivalents as of beginning of period | 13,861 | 5,576 | 3,189 |
Cash and cash equivalents as of end of period | 86,939 | 13,861 | 5,576 |
Supplemental disclosure of cash flow information: | ' | ' | ' |
Cash paid for interest, including interest on capital leases | 20,831 | 21,250 | 20,355 |
Cash paid for income taxes | $4,031 | $3,049 | $1,844 |
Basis_Of_Presentation_and_Summ
Basis Of Presentation and Summary of Significant Accounting Policies | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Basis Of Presentation and Summary of Significant Accounting Policies | ' | |||||||||
Basis Of Presentation and Summary of Significant Accounting Policies | ' | |||||||||
(1) Basis of Presentation and Summary of Significant Accounting Policies | ||||||||||
(a) Description of Business | ||||||||||
Cardtronics, Inc., along with its wholly- and majority-owned subsidiaries (collectively, the "Company") provides convenient automated consumer financial services through its network of automated teller machines ("ATMs") and multi-function financial services kiosks. As of December 31, 2013, the Company provided services to approximately 80,600 devices across its portfolio, which included approximately 64,300 devices located in all 50 states of the United States ("U.S.") as well as in the U.S. territories of Puerto Rico and the U.S. Virgin Islands, approximately 11,500 devices throughout the United Kingdom ("U.K."), approximately 900 devices throughout Germany, approximately 1,900 devices throughout Canada, and approximately 2,000 devices throughout Mexico. In the U.S., certain of the Company’s devices are multi-function financial services kiosks that, in addition to traditional ATM functions such as cash dispensing and bank account balance inquiries, perform other consumer financial services, including bill payments, check cashing, remote deposit capture (which is deposit taking at ATMs using electronic imaging), and money transfers. Also included in the total count of 80,600 devices are approximately 13,600 devices for which the Company provides various forms of managed services solutions, which may include services such as transaction processing, monitoring, maintenance, cash management, communications, and customer service. | ||||||||||
Through its network, the Company provides ATM management and equipment-related services (typically under multi-year contracts) to large, nationally and regionally-known retail merchants as well as smaller retailers and operators of facilities such as shopping malls and airports. In doing so, the Company provides its retail partners with a compelling automated financial services solution that helps attract and retain customers, and in turn, increases the likelihood that the devices placed at their facilities will be utilized. | ||||||||||
In addition to its retail merchant relationships, the Company also partners with leading national financial institutions to brand selected ATMs and financial services kiosks within its network, including BBVA Compass Bancshares, Inc., Citibank, N.A., Citizens Financial Group, Inc., Cullen/Frost Bankers, Inc., JPMorgan Chase Bank, N.A., Santander Bank, N.A., and PNC Bank, N.A. in the U.S. and The Bank of Nova Scotia (“Scotiabank”) in Canada and Puerto Rico. In Mexico, the Company partners with Bansí, S.A. Institución de Banca Multiple (“Bansi”), a regional bank in Mexico and a noncontrolling interest owner in Cardtronics Mexico, S.A. de C.V. (“Cardtronics Mexico”), as well as with Grupo Financiero Banorte, S.A. de C.V. (“Banorte”) and Scotiabank to place their brands on the Company’s ATMs in exchange for certain services provided by them. As of December 31, 2013, approximately 20,400 of the Company’s ATMs were under contract with financial institutions to place their logos on the machines and to provide convenient surcharge-free access for their banking customers. | ||||||||||
The Company also owns and operates the Allpoint network (“Allpoint”), the largest surcharge-free ATM network within the U.S. (based on the number of participating ATMs). The Allpoint network, which has more than 55,000 participating ATMs globally, provides surcharge-free ATM access to customers of participating financial institutions that may lack a significant ATM network in exchange for either a fixed monthly fee per cardholder or a set fee per transaction that is paid by the financial institutions who are members of the network. The Allpoint network includes a majority of the Company’s ATMs in the U.S., a portion of the Company’s ATMs in the U.K. and Canada, Puerto Rico and Mexico, and over 5,000 locations in Australia through a partnership with a local ATM owner and operator. Allpoint also works with financial institutions that manage stored-value debit card programs on behalf of corporate entities and governmental agencies, including general purpose, payroll and electronic benefits transfer (“EBT”) cards. Under these programs, the issuing financial institutions pay Allpoint a fee per issued stored-value card or per transaction in return for allowing the users of those cards surcharge-free access to Allpoint’s participating ATM network. | ||||||||||
Finally, the Company owns and operates an electronic funds transfer (“EFT”) transaction processing platform that provides transaction processing services to its network of ATMs and financial services kiosks as well as other ATMs under managed services arrangements. | ||||||||||
(b) Basis of Presentation and Consolidation | ||||||||||
The consolidated financial statements include the accounts of the Company. All material intercompany accounts and transactions have been eliminated in consolidation. Because the Company owns a majority (51.0%) interest in, and realizes a majority of the earnings and/or losses of, Cardtronics Mexico, this entity is reflected as a consolidated subsidiary in the accompanying consolidated financial statements, with the remaining ownership interests not held by the Company being reflected as noncontrolling interests. | ||||||||||
In management’s opinion, all adjustments necessary for a fair presentation of the Company’s current and prior period results have been made. Additionally, the financial statements for prior periods include reclassifications that were made to conform to the current period presentation. Those reclassifications did not impact the Company’s total reported net income or stockholders’ equity. | ||||||||||
The Company presents Cost of ATM operating revenues and Gross profit within its Consolidated Statements of Operations exclusive of depreciation, accretion, and amortization expense related to ATMs and ATM-related assets. The following table sets forth the amounts excluded from Cost of ATM operating revenues and Gross profit during the years ended December 31, 2013, 2012, and 2011: | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Depreciation and accretion expenses related to ATMs and ATM-related assets | $ | 59,841 | $ | 53,028 | $ | 41,364 | ||||
Amortization expense | 27,336 | 21,712 | 17,914 | |||||||
Total depreciation, accretion, and amortization expenses excluded from Cost of ATM operating revenues and Gross profit | $ | 87,177 | $ | 74,740 | $ | 59,278 | ||||
(c) Use of Estimates in the Preparation of Financial Statements | ||||||||||
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates include the carrying amount of intangibles, goodwill, asset retirement obligations, and valuation allowances for receivables, inventories, contingencies, and deferred income tax assets. Actual results can, and often do, differ from those assumed in the Company’s estimates. | ||||||||||
(d) Cash and Cash Equivalents | ||||||||||
For purposes of reporting financial condition and cash flows, cash and cash equivalents include cash in bank and short-term deposit sweep accounts. Additionally, the Company maintains cash on deposit with banks that is pledged for a particular use or restricted to support a potential liability. These balances are classified as restricted cash in current or noncurrent assets on the Company’s Consolidated Balance Sheets based on when the Company expects this cash to be used. There was $14.9 million and $8.3 million of restricted cash in current assets as of December 31, 2013 and 2012, respectively. Current restricted cash consisted of amounts collected on behalf of, but not yet remitted to, certain of the Company’s merchant customers or third-party service providers. | ||||||||||
(e) Cash Management Program | ||||||||||
The Company relies on agreements with various banks, such as Bank of America, N.A. (“Bank of America”) and Wells Fargo, N.A. (“Wells Fargo”), to provide the cash that it uses in its devices in which the merchants do not provide their own cash. The Company pays a fee for its usage of this vault cash based on the total amount of cash outstanding at any given time, as well as fees related to the bundling and preparation of such cash prior to it being loaded in the devices. At all times, beneficial ownership of the cash is retained by the cash providers, and the Company has no access or right to the cash except for those ATMs that are serviced by the Company’s wholly-owned armored courier operation in the U.K. While the armored courier operation has physical access to the cash loaded in those machines, beneficial ownership of that cash remains with the cash provider at all times. The Company’s vault cash agreements expire at various times between March 2014 and December 2016. (See Note 19, Concentration Risk for additional information on the concentration risk associated with the Company’s arrangements with Bank of America and Wells Fargo.) Based on the foregoing, the ATM vault cash, and the related obligations, are not reflected in the accompanying consolidated financial statements. The average amount of cash in the Company’s devices for the quarters ended December 31, 2013 and 2012 were approximately $2.7 billion and $2.2 billion, respectively. | ||||||||||
(f) Accounts Receivable, including Allowance for Doubtful Accounts | ||||||||||
Accounts receivable are comprised of amounts due from the Company’s clearing and settlement banks for transaction revenues earned on transactions processed during the month ending on the balance sheet date, as well as receivables from bank branding and network branding customers, and for equipment sales. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of the amount of probable credit losses on the Company’s existing accounts receivable. The Company reviews its allowance for doubtful accounts monthly and determines the allowance based on an analysis of its past due accounts. All balances over 90 days past due are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. | ||||||||||
(g) Inventory | ||||||||||
Inventory consists principally of used ATMs, ATM spare parts, and ATM supplies and is stated at the lower of cost or market. Cost is determined using the average cost method. The following table is a breakdown of the Company’s primary inventory components as of December 31, 2013 and 2012: | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
ATMs | $ | 2,022 | $ | 2,734 | ||||||
ATM parts and supplies | 4,013 | 2,844 | ||||||||
Total | 6,035 | 5,578 | ||||||||
Less: Inventory reserves | -733 | -1,189 | ||||||||
Inventory, net | $ | 5,302 | $ | 4,389 | ||||||
(h) Property and Equipment, Net | ||||||||||
Property and equipment are stated at cost, and depreciation is calculated using the straight-line method over estimated useful lives ranging from three to ten years. Leasehold improvements and property acquired under capital leases are amortized over the useful life of the asset or the lease term, whichever is shorter. Also included in property and equipment are new ATMs and/or financial services kiosks and the associated equipment the Company has acquired for future installation. These devices are held as “deployments in process” and are not depreciated until actually installed. Significant refurbishment costs that extend the useful life of an asset, or enhance its functionality are capitalized and depreciated over the estimated remaining life of the improved asset. Property and equipment are reviewed for impairment at least annually and additionally whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. | ||||||||||
Maintenance on the Company’s devices is typically performed by third parties and is generally incurred as a fixed fee per month per device, except for in the U.K. where maintenance is primarily performed by in-house technicians. In both cases, amounts incurred for maintenance are expensed as incurred. | ||||||||||
Depreciation expense for property and equipment for the years ended December 31, 2013, 2012, and 2011 was $65.7 million, $58.9 million, and $45.7 million, respectively. As of December 31, 2013, the Company did not have any material capital leases outstanding. See Note 1(l), Asset Retirement Obligations, for additional information on asset retirement obligations associated with the Company’s devices. | ||||||||||
(i) Intangible Assets Other Than Goodwill | ||||||||||
The Company’s intangible assets include merchant contracts/relationships and branding agreements acquired in connection with acquisitions of ATM and kiosk-related assets (i.e., the right to receive future cash flows related to transactions occurring at these merchant locations), exclusive license agreements and site acquisition costs (i.e., the right to be the exclusive ATM or kiosk service provider, at specific locations, for the time period under contract with a merchant customer), technology, non-compete agreements, deferred financing costs relating to the Company’s credit agreements (see Note 10, Long-Term Debt), and trade names acquired. | ||||||||||
The estimated fair value of the merchant contracts/relationships within each acquired portfolio is determined based on the estimated net cash flows and useful lives of the underlying contracts/relationships, including expected renewals. The merchant contracts/relationships comprising each acquired portfolio are typically homogenous in nature with respect to the underlying contractual terms and conditions. Accordingly, the Company generally pools such acquired merchant contracts/relationships into a single intangible asset, by acquired portfolio, for purposes of computing the related amortization expense. The Company amortizes such intangible assets on a straight-line basis over the estimated useful lives of the portfolios to which the assets relate. Because the net cash flows associated with the Company’s acquired merchant contracts/relationships have historically increased subsequent to the acquisition date, the use of a straight-line method of amortization effectively results in an accelerated amortization schedule. The estimated useful life of each portfolio is determined based on the weighted-average lives of the expected cash flows associated with the underlying merchant contracts/relationships comprising the portfolio, and takes into consideration expected renewal rates and the terms and significance of the underlying contracts/relationships themselves. Costs incurred by the Company to renew or extend the term of an existing contract are expensed as incurred, except for any direct payments made to the merchants, which are set up as new intangible assets (exclusive license agreements). Certain acquired merchant contracts/relationships may have unique attributes, such as significant contractual terms or value, and in such cases, the Company will separately account for these contracts in order to better assess the value and estimated useful lives of the underlying merchant relationships. | ||||||||||
The Company tests its acquired merchant contract/relationship intangible assets for impairment, along with the related devices, on an individual contract/relationship basis for the Company’s significant acquired contracts/relationships, and on a pooled or portfolio basis (by acquisition) for all other acquired contracts/relationships. If, subsequent to the acquisition date, circumstances indicate that a shorter estimated useful life is warranted for an acquired portfolio or an individual customer relationship as a result of changes in the expected future cash flows associated with the individual contracts/relationships comprising that portfolio or relationship, then that portfolio’s remaining estimated useful life and related amortization expense are adjusted accordingly on a prospective basis. | ||||||||||
Whenever events or changes in circumstances indicate that a merchant contract/relationship intangible asset may be impaired, the Company evaluates the recoverability of the intangible asset, and the related devices, by measuring the related carrying amounts against the estimated undiscounted future cash flows associated with the related contract or portfolio of contracts. Should the sum of the expected future net cash flows be less than the carrying values of the tangible and intangible assets being evaluated, an impairment loss would be recognized. The impairment loss would be calculated as the amount by which the carrying values of the tangible and intangible assets exceeded the calculated fair value. | ||||||||||
No impairment of indefinite-live intangible assets was identified during the years ended December 31, 2013 and 2012. Additional information regarding the Company’s intangible assets is included in Note 7, Intangible Assets. | ||||||||||
(j) Goodwill | ||||||||||
Goodwill resulting from a business combination is not amortized but is tested for impairment at least annually and more frequently if conditions warrant. Under U.S. GAAP, goodwill should be tested for impairment at the reporting unit level, which in the Company’s case involves six separate reporting units: (i) the Company’s domestic reporting segment; (ii) the acquired ATM operations in the U.K. from Bank Machine and Cardpoint; (iii) the acquired CCS Mexico (subsequently renamed to Cardtronics Mexico) operations; (iv) the acquired Canadian operations (subsequently renamed Cardtronics Canada); (v) the acquired German operations from Cardpoint; and (vi) the acquired i-design group plc (“i-design”) operations. For each reporting unit, the carrying amount of the net assets associated with the applicable reporting unit is compared to the estimated fair value of such reporting unit as of the testing date (i.e., December 31, 2013). When estimating fair values of a reporting unit for its goodwill impairment test, the Company utilizes a combination of the income approach and market approach, which incorporates both management’s views and those of the market. The income approach provides an estimated fair value based on each reporting unit’s anticipated cash flows, which have been discounted using a weighted-average cost of capital rate for each reporting unit. The market approach provides an estimated fair value based on the Company’s market capitalization that is computed using the market price of its common stock and the number of shares outstanding as of the impairment test date. The sum of the estimated fair values for each reporting unit, as computed using the income approach, is then compared to the fair value of the Company as a whole, as determined based on the market approach. If such amounts are consistent, the estimated fair values for each reporting unit, as derived from the income approach, are utilized. | ||||||||||
All of the assumptions utilized in estimating the fair value of the Company’s reporting units and performing the goodwill impairment test are inherently uncertain and require significant judgment on the part of management. The primary assumptions used in the income approach are estimated cash flows, the weighted average cost of capital for each reporting unit, and valuation multiples assigned to the earnings before interest expense, income taxes, depreciation and accretion expense, and amortization expense (“EBITDA”) of each reporting unit in order to assess the terminal value for each reporting unit. Estimated cash flows are primarily based on the Company’s projected revenues, operating costs, and capital expenditures and are discounted based on comparable industry average rates for the weighted-average cost of capital for each reporting unit. The Company utilized discount rates based on weighted-average cost of capital amounts ranging from 10% to 12% when estimating the fair values of its reporting units as of December 31, 2013 and 2012. With respect to the EBITDA multiples utilized in assessing the terminal value of each of its reporting units, the Company utilized its current multiple, but also evaluated it to current and historical valuation multiples assigned to a number of its industry peer group companies for reasonableness. | ||||||||||
Based on the results of the impairment analysis, the Company determined that no impairment of goodwill existed as of December 31, 2013 and 2012, and the fair values of its reporting units were substantially in excess of the carrying values of such reporting units. | ||||||||||
(k) Income Taxes | ||||||||||
Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes, which are based on temporary differences between the amount of taxable income and income before provision for income taxes and between the tax basis of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the consolidated financial statements at current income tax rates. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. As the ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible, the Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. In the event the Company does not believe it will be able to utilize the related tax benefits associated with deferred tax assets, valuation allowances will be recorded to reserve for the assets. | ||||||||||
(l) Asset Retirement Obligations | ||||||||||
The Company estimates the fair value of future retirement costs associated with its ATMs and recognizes this amount as a liability on a pooled basis based on estimated deinstallation dates in the period in which it is incurred, and when it can be reasonably estimated. The Company’s estimates of fair value involve discounted future cash flows. Subsequent to recognizing the initial liability, the Company recognizes an ongoing expense for changes in such liabilities due to the passage of time (i.e., accretion expense), which is recorded in the depreciation and accretion expense line in the accompanying Consolidated Financial Statements. As the liability is not revalued on a recurring basis, it is periodically reevaluated based on current cost estimate and contract information. Upon settlement of the liability, the Company recognizes a gain or loss for any difference between the settlement amount and the liability recorded. Additionally, the Company capitalizes the initial estimated fair value amount as an asset and depreciates the amount over its estimated useful life. Additional information regarding the Company’s asset retirement obligations is included in Note 11, Asset Retirement Obligations. | ||||||||||
(m) Revenue Recognition | ||||||||||
ATM operating revenues. Substantially all of the Company’s revenues are generated from ATM and kiosk operating and transaction-based fees, which are reflected as “ATM operating revenues” in the accompanying Consolidated Statements of Operations. ATM operating revenues primarily include the following: | ||||||||||
· | Surcharge and interchange revenues, which are recognized daily as the underlying transactions are processed. | |||||||||
· | Bank branding revenues, which are generated by the Company’s bank branding arrangements, under which financial institutions generally pay a fixed monthly fee per device to the Company to place their brand name on selected ATMs and multi-function kiosks within the Company’s portfolio. In return for such fees, the branding institution’s customers can use those branded devices without paying a surcharge fee. The monthly per device branding fees are recognized as revenues on a monthly basis as earned, and are subject to escalation clauses within the agreements. In addition to the monthly branding fees, the Company may also receive a one-time set-up fee per device. This set-up fee is separate from the recurring, monthly branding fees and is meant to compensate the Company for the burden incurred related to the initial set-up of a branded device versus the on-going monthly services provided for the actual branding. In accordance with U.S. GAAP, the Company has deferred these set-up fees (as well as the corresponding costs associated with the initial set-up) and is recognizing such amounts as revenue (and expense) over the terms of the underlying bank branding agreements on a straight-line basis. | |||||||||
· | Surcharge-free network revenues, which are generated by the operations of Allpoint, the Company’s surcharge-free network. The Company allows cardholders of financial institutions that participate in Allpoint to utilize the Company’s network of devices on a surcharge-free basis. In return, the participating financial institutions pay a fixed fee per month per cardholder or a fee per transaction to the Company. These surcharge-free network fees are recognized as revenues on a monthly basis as earned. | |||||||||
· | Managed services revenues, which the Company typically receives a fixed management fee and may be supplemented by certain additional fees based on transaction volume. While the management fee and any additional fees are recognized as revenue on a monthly basis as earned, the surcharge and interchange fees generated by the ATM under the managed services agreement are earned by the Company’s customer, therefore, not recorded as revenue of the Company. | |||||||||
· | Other revenues, which includes maintenance fees; fees from other consumer financial services offerings such as check-cashing, remote deposit capture and bill pay services; and upfront payments. With respect to maintenance services, the Company typically charges a fixed fee per month per device to its subscribing customers and outsources the fulfillment of those maintenance services to a third-party service provider for a corresponding fixed fee per month per device. Accordingly, the Company recognizes such service agreement revenues and the related expenses on a monthly basis as earned. With respect to its automated consumer financial services offerings, the Company typically recognizes the revenues as the services are provided and the revenues earned. In addition to the transaction-based fees, the Company may also receive upfront payments from third-party service providers associated with providing certain of these services, which are deferred and recognized as revenue over the underlying contractual period. | |||||||||
ATM equipment sales. The Company also generates revenues from the sale of ATMs to merchants and certain equipment resellers. Such amounts are reflected as “ATM product sales and other revenues” in the accompanying Consolidated Statements of Operations. Revenues related to the sale of ATMs to merchants are recognized when the equipment is delivered to the customer and the Company has completed all required installation and set-up procedures. With respect to the sale of ATMs to associate value-added resellers (“VARs”), the Company recognizes and invoices revenues related to such sales when the equipment is shipped from the manufacturer to the associate VAR. The Company typically extends 30-day terms and receives payment directly from the associate VAR irrespective of the ultimate sale to a third-party. | ||||||||||
Merchant-owned arrangements. In connection with the Company’s merchant-owned ATM operating/processing arrangements, the Company typically pays all or a sizable portion of the surcharge fees that it earns to the merchant as fees for providing, placing, and maintaining the ATM unit. Pursuant to the guidance in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 605-45-45, Revenue Recognition – Principal Agent Considerations – Other Presentation Matters, the Company has assessed whether to record such payments as a reduction of associated ATM transaction revenues or a cost of revenues. Specifically, if the Company acts as the principal and is the primary obligor in the ATM transactions, provides the processing for the ATM transactions, has significant influence over pricing, and has the risks and rewards of ownership, including a variable earnings component and the risk of loss for collection, the Company recognizes the surcharge and interchange fees on a gross basis and does not reduce its reported revenues for payments made to the various merchants and retail establishments where the ATM units are housed. As a result, for agreements under which the Company acts as the principal, the Company records the total amounts earned from the underlying ATM transactions as ATM operating revenues and records the related merchant commissions as a cost of ATM operating revenues. However, for those agreements in which the Company does not meet the criteria to qualify as the principal agent in the transaction, the Company does not record the related surcharge revenue as the rights associated with this revenue stream inure to the benefit of the merchant. | ||||||||||
(n) Stock-Based Compensation | ||||||||||
The Company calculates the fair value of stock-based instruments awarded to employees on the date of grant and recognizes the calculated fair value as compensation cost over the requisite service period. For additional information on the Company’s stock-based compensation, see Note 3, Stock-Based Compensation. | ||||||||||
(o) Derivative Financial Instruments | ||||||||||
The Company utilizes derivative financial instruments to hedge its exposure to changing interest rates related to the Company’s ATM and kiosk cash management activities. The Company does not enter into derivative transactions for speculative or trading purposes, although circumstances may subsequently change the designation of its derivatives to economic hedges. | ||||||||||
The Company records derivative instruments at fair value on its Consolidated Balance Sheets. These derivatives, which consist of interest rate swaps, are valued using pricing models based on significant other observable inputs (Level 2 inputs under the fair value hierarchy prescribed by U.S. GAAP), while taking into account the nonperformance risk of the counterparty. The majority of the Company’s derivative transactions have been accounted for as cash flow hedges and, accordingly, changes in the fair values of such derivatives have been reflected in the Accumulated other comprehensive loss, net line in the accompanying Consolidated Balance Sheets to the extent that the hedging relationships are determined to be effective, and then recognized in earnings when the hedged transactions occur. For additional information on the Company’s derivative financial instruments, see Note 15, Derivative Financial Instruments. | ||||||||||
(p) Fair Value of Financial Instruments | ||||||||||
The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. U.S. GAAP does not require the disclosure of the fair value of lease financing arrangements and non-financial instruments, including intangible assets such as goodwill and the Company’s merchant contracts/relationships. See Note 16, Fair Value Measurements for the Company’s fair value evaluation of its financial instruments. | ||||||||||
(q) Foreign Currency Translation | ||||||||||
The Company is exposed to foreign currency translation risk with respect to its international operations. The functional currencies for these businesses are their respective local currencies. Accordingly, results of operations of the Company’s international subsidiaries are translated into U.S. dollars using average exchange rates in effect during the periods in which those results are generated. Furthermore, the Company’s foreign operations’ assets and liabilities are translated into U.S. dollars using the exchange rate in effect as of each balance sheet reporting date. The resulting translation adjustments have been included in accumulated other comprehensive loss, net in the accompanying Consolidated Balance Sheets. | ||||||||||
The Company currently believes that the unremitted earnings of all of its international subsidiaries will be reinvested in the corresponding country of origin for an indefinite period of time. Accordingly, no deferred taxes have been provided for the differences between the Company’s book basis and underlying tax basis in those subsidiaries or on the foreign currency translation adjustment amounts. | ||||||||||
(r) Treasury Stock | ||||||||||
Treasury stock is recorded at cost and carried as a reduction to stockholders’ equity until retired or reissued. | ||||||||||
(s) Advertising Costs | ||||||||||
Advertising costs are expensed as incurred and totaled $4.4 million, $3.0 million, and $2.3 million during the years ended December 31, 2013, 2012, and 2011, respectively, and are included in the line item Selling, general, and administrative expenses in the accompanying Consolidated Statements of Operations. | ||||||||||
(t) Working Capital Deficit | ||||||||||
The Company’s surcharge and interchange revenues are typically collected in cash on a daily basis or within a short period of time subsequent to the end of each month. However, the Company typically pays its vendors on 30 day terms and is not required to pay certain of its merchants until 20 days after the end of each calendar month. As a result, the Company will typically utilize the excess cash flow generated from such timing differences to fund its capital expenditure needs or to repay amounts outstanding under its revolving line of credit (which, when drawn upon, is reflected as a long-term liability in the accompanying Consolidated Balance Sheets). Accordingly, this utilization will typically cause the Company’s balance sheet to reflect a working capital deficit position. The Company considers such a presentation to be a normal part of its ongoing operations. | ||||||||||
(u) New Accounting Pronouncements | ||||||||||
The Company adopted the following accounting standard during 2013: | ||||||||||
Reclassifications out of Accumulated Other Comprehensive Income. In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update requires entities to disclose items reclassified out of accumulated other comprehensive income and into net income in a single location within the financial statements. The Company adopted ASU 2013-02 as of January 1, 2013, and now reports this information in Note 13, Stockholders’ Equity. | ||||||||||
Acquisitions
Acquisitions | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Acquisitions [Abstract] | ' | ||||||||||||
Acquisitions | ' | ||||||||||||
(2) Acquisitions | |||||||||||||
Acquisition of the Cardpoint ATM Portfolio | |||||||||||||
On August 7, 2013, Cardtronics Europe Limited (“Cardtronics Europe”), a newly formed wholly-owned subsidiary of the Company, entered into, and consummated the transactions contemplated by, the Share Sale and Purchase Agreement (the “Purchase Agreement”) including the purchase of all of the outstanding shares issued by Cardpoint Limited (“Cardpoint”) from Payzone Ventures Limited (the “Seller”) and the individuals named as warrantors in the Purchase Agreement. | |||||||||||||
Pursuant to the Purchase Agreement, Cardtronics Europe acquired all of the outstanding shares issued by Cardpoint for purchase consideration of £100.0 million ($153.5 million) in cash, which included the aggregate amount required to be paid (including principal and interest) in order to fully discharge all of Cardpoint’s outstanding indebtedness to the Seller at closing. Additionally, as part of the Purchase Agreement, Cardtronics Europe entered into a locked box agreement, under which additional cash at closing was paid to the Seller in the amount of approximately £5.9 million ($9.0 million) as additional consideration for earnings since February 28, 2013. No further working capital adjustments were required under the Purchase Agreement. The Company also paid to certain members of Cardpoint’s management transaction bonuses on behalf of the Seller in an aggregate amount of approximately £0.5 million ($0.7 million), pursuant to the Purchase Agreement. The total amount paid for the acquisition was approximately £105.4 million ($161.8 million) at closing, which was financed through borrowings under the Company’s amended revolving credit facility. | |||||||||||||
As a result of the Cardpoint acquisition, the Company significantly increased the size of its European operations. Cardpoint operated approximately 7,100 ATMs in the U.K. and approximately 800 ATMs in Germany as of the acquisition date, substantially all of which were owned by Cardpoint. Approximately one-fourth of the ATMs deployed in the U.K. are placed with well-known multi-location retailers, whereas the remainder of the ATMs in the U.K. and most of the ATMs in Germany are primarily placed with individual merchants at their retail locations. | |||||||||||||
The results of operations of the acquired Cardpoint portfolio have been included in the Company's consolidated statement of operations subsequent to the August 7, 2013 acquisition date. Revenue and loss from operations of $46.3 million and $1.7 million, respectively, were included in the year ended December 31, 2013. The loss from operations includes approximately $5.8 million in acquisition-related expenses incurred during the year related to this acquisition. | |||||||||||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (amounts in thousands). The total purchase consideration was allocated to the assets acquired and liabilities assumed, including identifiable intangible assets, based on their respective fair values at the date of acquisition. This allocation resulted in goodwill of approximately $90.9 million, all of which has been assigned to the Company's Europe reporting segment, which now includes operations from both the U.K. and Germany. The recognized goodwill is primarily attributable to expected synergies. None of the goodwill or intangible asset amounts are expected to be deductible for income tax purposes. | |||||||||||||
(In thousands) | |||||||||||||
Cash and cash equivalents | $ | 4,782 | |||||||||||
Accounts and notes receivable | 619 | ||||||||||||
Inventory | 863 | ||||||||||||
Restricted cash | 7,522 | ||||||||||||
Prepaid expenses, deferred costs, and other current assets | 6,665 | ||||||||||||
Property and equipment | 28,548 | ||||||||||||
Deferred tax assets | 22,117 | ||||||||||||
Intangible assets | 59,673 | ||||||||||||
Goodwill | 90,913 | ||||||||||||
Total assets acquired | 221,702 | ||||||||||||
Accounts payable | 6,052 | ||||||||||||
Accrued liabilities | 24,393 | ||||||||||||
Deferred revenue | 56 | ||||||||||||
Asset retirement obligations | 16,521 | ||||||||||||
Deferred tax liabilities | 12,852 | ||||||||||||
Total liabilities assumed | 59,874 | ||||||||||||
Net assets acquired | $ | 161,828 | |||||||||||
The fair values of intangible assets acquired have been initially estimated by utilizing a discounted cash flow approach, with the assistance of an independent appraisal firm. The intangible assets acquired as part of the Cardpoint acquisition are being amortized on a straight-line basis, and the preliminary fair values consist of the following: | |||||||||||||
Fair Values | Useful Lives | Weighted Average Period Before Next Renewal | |||||||||||
(In thousands) | |||||||||||||
Customer contracts | $ | 50,291 | 7 years | 3.9 years | |||||||||
Trade name | 9,096 | 15 years | N/A | ||||||||||
Non-compete agreements | 286 | 1 year | N/A | ||||||||||
Total | $ | 59,673 | |||||||||||
Pro Forma Results of Operations | |||||||||||||
The following table presents the unaudited pro forma combined results of operations of the Company and the acquired Cardpoint portfolio for the years ended December 31, 2013 and 2012, after giving effect to certain pro forma adjustments including: (i) amortization of acquired intangible assets, (ii) the impact of certain fair value adjustments such as depreciation on the acquired property and equipment, and (iii) interest expense adjustment for historical long-term debt of Cardpoint that was repaid and interest expense on additional borrowings by the Company to fund the acquisition. | |||||||||||||
2013 | 2012 | ||||||||||||
As Reported | Pro Forma | As Reported | Pro Forma | ||||||||||
(Unaudited) | (Unaudited) | ||||||||||||
(In thousands, excluding per share amounts) | |||||||||||||
Total revenues | $ | 876,486 | $ | 938,962 | $ | 780,449 | $ | 883,350 | |||||
Net income attributable to controlling interests and available to common stockholders | 23,816 | 24,220 | 43,591 | 42,670 | |||||||||
Earnings per share – basic | $ | 0.52 | $ | 0.53 | $ | 0.97 | $ | 0.95 | |||||
Earnings per share – diluted | $ | 0.52 | $ | 0.53 | $ | 0.96 | $ | 0.94 | |||||
The unaudited pro forma financial results do not reflect the impact of other acquisitions consummated by the Company during the year ended December 31, 2013 (see further details below), as the impact would not be material to its condensed consolidated results of operations. The unaudited pro forma financial results assume that the Cardpoint acquisition occurred on January 1, 2012, and are not necessarily indicative of the actual results that would have occurred had those transactions been completed on that date. Furthermore, it does not reflect the impacts of any potential operating efficiencies, savings from expected synergies, or costs to integrate the operations. The unaudited pro forma financial results are not necessarily indicative of the future results to be expected for the consolidated operations. | |||||||||||||
Other Acquisitions | |||||||||||||
On March 7, 2013, the Company completed the acquisition of i-design, a Scotland-based provider and developer of marketing and advertising software and services for ATM owners. Additionally, the Company acquired the majority of the assets of Aptus Group, LLC (“Aptus”) on May 1, 2013, Merrimak ATM Group, LLC (“Merrimak”) on June 3, 2013, and CGI, Inc. (“CGI”) on October 1, 2013. Aptus, Merrimak, and CGI were providers of ATM services to fleets of approximately 3,300 ATMs, 4,800 ATMs, and 1,000 ATMs respectively, consisting primarily of merchant-owned machines. | |||||||||||||
The acquisitions of i-design, Aptus, Merrimak, and CGI did not have a material effect on the Company's consolidated results of operations during the year ended December 31, 2013, both on an individual basis and on a combined basis. | |||||||||||||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||
Stock-Based Compensation | ' | |||||||||||
(3) Stock-Based Compensation | ||||||||||||
As noted in Note 1(n), Stock-Based Compensation, the Company accounts for its stock-based compensation by recognizing the grant date fair value of stock-based awards, net of estimated forfeitures, as compensation expense over the underlying requisite service periods of the related awards. The grant date fair value is based upon the Company’s stock price on the date of grant. The following table reflects the total stock-based compensation expense amounts included in the accompanying Consolidated Statements of Operations: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Cost of ATM operating revenues | $ | 911 | $ | 930 | $ | 903 | ||||||
Selling, general, and administrative expenses | 11,413 | 10,180 | 8,421 | |||||||||
Total stock-based compensation expense | $ | 12,324 | $ | 11,110 | $ | 9,324 | ||||||
The increase in stock-based compensation expense each year was due to additional expense recognition from the additional grants made during the periods. All grants during the periods above were made under the Company's Amended and Restated 2007 Stock Incentive Plan (the "2007 Plan"), which is further discussed below. | ||||||||||||
Stock-Based Compensation Plans. The Company currently has two long-term incentive plans - the 2007 Stock Incentive Plan (the “2007 Plan”) and the 2001 Stock Incentive Plan (the “2001 Plan”). The purpose of each of these plans is to provide members of the Company’s Board of Directors and employees of the Company and its affiliates additional incentive and reward opportunities designed to enhance the profitable growth of the Company and its affiliates. Equity grants awarded under these plans generally vest over four years based on continued employment. The Company handles stock option exercises and other stock grants through the issuance of new common shares. | ||||||||||||
2007 Plan. The 2007 Plan provides for the granting of incentive stock options intended to qualify under Section 422 of the Internal Revenue Code, options that do not constitute incentive stock options, RSAs, phantom stock awards, RSUs, bonus stock awards, performance awards, and annual incentive awards. The number of shares of common stock that may be issued under the 2007 Plan may not exceed 5,179,393 shares. The shares issued under the 2007 Plan are subject to further adjustment to reflect stock dividends, stock splits, recapitalizations, and similar changes in the Company’s capital structure. As of December 31, 2013, 416,500 options and 4,102,458 shares of restricted stock awards and units, net of cancellations, had been granted under the 2007 Plan, and options to purchase 232,275 shares of common stock have been exercised. | ||||||||||||
2001 Plan. No further awards were granted under the Company’s 2001 Plan, as a result of the 2007 Plan adoption. As of December 31, 2013, options to purchase an aggregate of 6,438,172 shares of common stock (net of options cancelled) had been granted pursuant to the 2001 Plan, all of which the Company considered as non-qualified stock options, and options to purchase 6,099,962 shares of common stock had been exercised. | ||||||||||||
Restricted Stock Awards. The number of the Company's outstanding Restricted Stock Awards (“RSAs”) as of December 31, 2013, and changes during the year ended December 31, 2013, are presented below: | ||||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | |||||||||||
RSAs outstanding as of January 1, 2013 | 632,107 | $ | 16.36 | |||||||||
Granted | 97,401 | $ | 26.86 | |||||||||
Vested | -282,138 | $ | 15.18 | |||||||||
Forfeited | -71,872 | $ | 24.30 | |||||||||
RSAs outstanding as of December 31, 2013 | 375,498 | $ | 18.42 | |||||||||
The majority of RSAs granted vest ratably over a four-year service period, and had a weighted average grant date fair value of $26.86, $28.30, and $23.13 for the years ended December 31, 2013, 2012, and 2011, respectively. The total fair value of RSAs that vested during the years ended December 31, 2013, 2012, and 2011 was $8.1 million, $15.1 million and $11.5 million, respectively. Compensation expense associated with RSAs totaled approximately $4.1 million, $5.5 million, and $5.9 million during 2013, 2012, and 2011, respectively, and based upon management’s estimates of forfeitures, there was approximately $3.5 million of unrecognized compensation cost associated with these shares as of December 31, 2013, which will be recognized on a straight-line basis over a remaining weighted-average vesting period of approximately 2.2 years. | ||||||||||||
Restricted Stock Units. In the first quarter of each year since 2011, the Company granted restricted stock units (“RSUs”) under its Long Term Incentive Plan ("LTIP"), which is an annual equity award program under the 2007 Stock Incentive Plan. The ultimate number of RSUs to be earned and outstanding are approved by the Compensation Committee of the Company's Board of Directors (the "Committee") on an annual basis, and are based on the Company's achievement of certain performance levels during the calendar year of its grant. The majority of these grants have both a performance-based and a service-based vesting schedule (“Performance-RSUs”), and the Company recognizes the related compensation expense based on the estimated performance levels that management believes will ultimately be met. Starting with the grants made in 2013, a portion of the awards have only a service-based vesting schedule (“Time-RSUs”), for which the associated expense is recognized ratably over four years. Performance-RSUs and Time-RSUs are convertible into the Company’s common stock after the passage of the vesting periods, which are 24, 36, and 48 months from January 31 of the grant year, at the rate of 50%, 25%, and 25%, respectively. Performance-RSUs will be earned only if the Company achieves certain performance levels. Although the Performance-RSUs are not considered to be earned and outstanding until at least the minimum performance metrics are met, the Company recognizes the related compensation expense over the requisite service period (or to an employee’s qualified retirement date, if earlier) using a graded vesting methodology. RSUs are also granted outside of LTIPs, with or without performance-based vesting requirements. | ||||||||||||
The number of the Company's non-vested RSUs as of December 31, 2013, and changes during the year ended December 31, 2013, are presented below: | ||||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | |||||||||||
Non-vested RSUs as of January 1, 2013 | 749,948 | $ | 20.01 | |||||||||
Granted | 268,265 | $ | 31.72 | |||||||||
Vested | -269,824 | $ | 17.22 | |||||||||
Forfeited | -15,154 | $ | 23.27 | |||||||||
Non-vested RSUs as of December 31, 2013 | 733,235 | $ | 25.26 | |||||||||
The above table only includes RSUs not subject to performance conditions; therefore, the Performance-RSUs granted in 2013 but not yet earned are not included. The number of Performance-RSUs granted in 2013 at target, net of forfeitures, was 247,798 shares with a grant date fair value of $27.43 per unit. The weighted average grant date fair value of the RSUs granted was $31.72, $21.73 and $16.82 for the years ended December 31, 2013, 2012, and 2011, respectively. The total fair value of RSUs that vested during the year ended December 31, 2013 was approximately $7.1 million. No RSUs vested during the years ended December 31, 2012 and 2011. Compensation expense associated with all RSUs totaled approximately $8.1 million, $5.5 million, and $2.9 million during 2013, 2012, and 2011, respectively. The unrecognized compensation expense associated with all RSU grants was $8.6 million as of December 31, 2013, which will be recognized using a graded vesting schedule for Performance-RSUs and a straight-line vesting schedule for Time-RSUs, over a remaining weighted-average vesting period of approximately 2.8 years. | ||||||||||||
Options. The number of the Company's outstanding stock options as of December 31, 2013, and changes during the year ended December 31, 2013, are presented below: | ||||||||||||
Number of Shares | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Remaining Contractual Term | |||||||||
Options outstanding as of January 1, 2013 | 552,799 | $ | 9.68 | |||||||||
Exercised | -270,749 | $ | 9.70 | |||||||||
Forfeited | -1,875 | $ | 11.05 | |||||||||
Options outstanding as of December 31, 2013 | 280,175 | $ | 9.66 | $ | 9,485 | 2.76 years | ||||||
Options vested and exercisable as of December 31, 2013 | 274,425 | $ | 9.63 | $ | 9,298 | 2.69 years | ||||||
Options exercised during the years ended December 31, 2013, 2012, and 2011 had a total intrinsic value of approximately $6.7 million, $12.9 million, and $15.1 million, respectively, which resulted in estimated tax benefits to the Company of approximately $2.3 million, $4.5 million, and $5.3 million, respectively. During 2012 and 2011, the Company was in a net operating loss carryforward position; therefore, such benefits were not reflected in the accompanying consolidated financial statements for those years. The cash received by the Company as a result of option exercises was $2.6 million, $7.3 million, and $11.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||
Fair Value Assumptions. The Company utilizes the Black-Scholes option-pricing model to value options, which requires the input of certain subjective assumptions, including the expected life of the options, a risk-free interest rate, a dividend rate, an estimated forfeiture rate, and the future volatility of the Company’s common equity. These assumptions are based on management’s best estimate at the time of grant. There have been no options granted since 2010. | ||||||||||||
Non-Vested Stock Options. The following table is a summary of the status of the Company’s non-vested stock options as of December 31, 2013, and changes during the year ended December 31, 2013: | ||||||||||||
Number of Shares Under Outstanding Options | Weighted Average Grant Date Fair Value | |||||||||||
Non-vested options as of January 1, 2013 | 34,625 | $ | 4.38 | |||||||||
Vested | -27,000 | $ | 4.05 | |||||||||
Forfeited | -1,875 | $ | 5.62 | |||||||||
Non-vested options as of December 31, 2013 | 5,750 | $ | 5.50 | |||||||||
As of December 31, 2013, the unrecognized compensation expense associated with outstanding options was immaterial. Compensation expense recognized related to stock options totaled approximately $0.1 million, $0.1 million, and $0.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||||
(4) Earnings per Share | |||||||||||||||||||
The Company reports its earnings per share under the two-class method. Under this method, potentially dilutive securities are excluded from the calculation of diluted earnings per share (as well as their related impact on the net income available to common stockholders) when their impact on net income available to common stockholders is anti-dilutive. Potentially dilutive securities for the year ended December 31, 2013, 2012, and 2011 included all outstanding stock options and shares of restricted stock, which were included in the calculation of diluted earnings per share for these periods. The potentially dilutive effect of outstanding warrants and the underlying shares exercisable under the Company’s convertible notes were excluded from diluted shares outstanding because the exercise price exceeded the average market price of the Company’s common stock. The effect of the note hedge the Company purchased to offset the underlying conversion option embedded in its convertible notes was also excluded, as the effect is anti-dilutive. | |||||||||||||||||||
The shares of restricted stock issued by the Company have a non-forfeitable right to cash dividends, if and when declared by the Company. Accordingly, restricted shares are considered to be participating securities and, as such, the Company has allocated the undistributed earnings for the year ended December 31, 2013, 2012, and 2011 among the Company's outstanding shares of common stock and issued but unvested restricted shares, as follows: | |||||||||||||||||||
Earnings per Share (in thousands, excluding share and per share amounts): | |||||||||||||||||||
2013 | |||||||||||||||||||
Income | Weighted Average Shares Outstanding | Earnings Per Share | |||||||||||||||||
Basic: | |||||||||||||||||||
Net income attributable to controlling interests and available to common stockholders | $ | 23,816 | |||||||||||||||||
Less: Undistributed earnings allocated to unvested restricted shares | -672 | ||||||||||||||||||
Net income available to common stockholders | $ | 23,144 | 44,371,313 | $ | 0.52 | ||||||||||||||
Diluted: | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||
Add: Undistributed earnings allocated to restricted shares | $ | 672 | |||||||||||||||||
Stock options added to the denominator under the treasury stock method | 206,322 | ||||||||||||||||||
Less: Undistributed earnings reallocated to restricted shares | -669 | ||||||||||||||||||
Net income available to common stockholders and assumed conversions | $ | 23,147 | 44,577,635 | $ | 0.52 | ||||||||||||||
2012 | 2011 | ||||||||||||||||||
Income | Weighted Average Shares Outstanding | Earnings Per Share | Income | Weighted Average Shares Outstanding | Earnings Per Share | ||||||||||||||
Basic: | |||||||||||||||||||
Net income attributable to controlling interests and available to common stockholders | $ | 43,591 | $ | 70,233 | |||||||||||||||
Less: Undistributed earnings allocated to unvested restricted shares | -1,497 | -2,626 | |||||||||||||||||
Net income available to common stockholders | $ | 42,094 | 43,469,175 | $ | 0.97 | $ | 67,607 | 42,201,491 | $ | 1.60 | |||||||||
Diluted: | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||
Add: Undistributed earnings allocated to restricted shares | $ | 1,497 | $ | 2,626 | |||||||||||||||
Stock options added to the denominator under the treasury stock method | 406,157 | 685,289 | |||||||||||||||||
Less: Undistributed earnings reallocated to restricted shares | -1,483 | -2,586 | |||||||||||||||||
Net income available to common stockholders and assumed conversions | $ | 42,108 | 43,875,332 | $ | 0.96 | $ | 67,647 | 42,886,780 | $ | 1.58 | |||||||||
The computation of diluted earnings per share excluded potentially dilutive common shares related to restricted stock (including both RSAs and RSUs) of 516,127 shares, 630,537 shares, and 501,331 shares for the year ended December 31, 2013, 2012, and 2011, respectively, because the effect of including these shares in the computation would have been anti-dilutive. | |||||||||||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
(5) Related Party Transactions | |
Board members. Dennis Lynch, a member of the Company’s Board of Directors, is a member of the Board of Directors for Fiserv, Inc. (“Fiserv”). Additionally, Jorge Diaz, also a member of the Company’s Board of Directors, is the Division President and Chief Executive Officer of Fiserv Output Solutions, a division of Fiserv. During the years ended December 31, 2013, 2012 and 2011, Fiserv provided the Company with third-party services during the normal course of business, including transaction processing, network hosting, network sponsorship, maintenance, cash management, and cash replenishment. The amounts paid to Fiserv for the years ended December 31, 2013, 2012, and 2011 were immaterial. | |
Bansi, an entity that owns a noncontrolling interest in the Company’s subsidiary, Cardtronics Mexico, provides various ATM management services to Cardtronics Mexico in the normal course of business, including serving as one of the vault cash providers and bank sponsors, as well as providing other miscellaneous services. The amounts paid to Bansi for the years ended December 31, 2013, 2012, and 2011 were immaterial. | |
Property_And_Equipment_Net
Property And Equipment, Net | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Property And Equipment, Net [Abstract] | ' | ||||||
Property And Equipment, Net | ' | ||||||
(6) Property and Equipment, Net | |||||||
The following is a summary of the components of property and equipment as of December 31, 2013 and 2012: | |||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
ATM equipment and related costs | $ | 538,364 | $ | 392,589 | |||
Technology assets | 53,271 | 36,326 | |||||
Office furniture, fixtures, and other | 40,564 | 31,500 | |||||
Total | 632,199 | 460,415 | |||||
Less accumulated depreciation | -361,233 | -224,177 | |||||
Net property and equipment | $ | 270,966 | $ | 236,238 | |||
The property and equipment balances include deployments in process, as discussed in Note 1(h), Property and Equipment, Net, of $12.7 million and $7.1 million as of December 31, 2013 and 2012, respectively. | |||||||
Intangible_Assets
Intangible Assets | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Intangible Assets [Abstract] | ' | |||||||||||||||||||||
Intangible Assets | ' | |||||||||||||||||||||
(7) Intangible Assets | ||||||||||||||||||||||
Intangible Assets with Indefinite Lives | ||||||||||||||||||||||
The following table presents the net carrying amount of the Company's intangible assets with indefinite lives as of December 31, 2013 and 2012, as well as the changes in the net carrying amounts for the years ended December 31, 2013 and 2012 by segment: | ||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||
U.S. | Europe (1) | Other International (2) | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||
Balance as of January 1, 2012: | ||||||||||||||||||||||
Gross balance | $ | 255,465 | $ | 63,364 | $ | 2,736 | $ | 321,565 | ||||||||||||||
Accumulated impairment loss | — | -50,003 | — | -50,003 | ||||||||||||||||||
$ | 255,465 | $ | 13,361 | $ | 2,736 | $ | 271,562 | |||||||||||||||
Acquisitions | 12,306 | 199 | 327 | 12,832 | ||||||||||||||||||
Purchase price adjustments | 683 | — | 2 | 685 | ||||||||||||||||||
Foreign currency translation adjustments | — | 579 | 38 | 617 | ||||||||||||||||||
Balance as of December 31, 2012: | ||||||||||||||||||||||
Gross balance | $ | 268,454 | $ | 64,142 | $ | 3,103 | $ | 335,699 | ||||||||||||||
Accumulated impairment loss | — | -50,003 | — | -50,003 | ||||||||||||||||||
$ | 268,454 | $ | 14,139 | $ | 3,103 | $ | 285,696 | |||||||||||||||
Acquisitions | 13,316 | 97,929 | — | 111,245 | ||||||||||||||||||
Purchase price adjustments | 29 | — | 141 | 170 | ||||||||||||||||||
Allocation adjustment | 6,640 | -6,860 | 220 | — | ||||||||||||||||||
Foreign currency translation adjustments | — | 7,552 | -172 | 7,380 | ||||||||||||||||||
Balance as of December 31, 2013: | ||||||||||||||||||||||
Gross balance | $ | 288,439 | $ | 162,763 | $ | 3,292 | $ | 454,494 | ||||||||||||||
Accumulated impairment loss | — | -50,003 | — | -50,003 | ||||||||||||||||||
$ | 288,439 | $ | 112,760 | $ | 3,292 | $ | 404,491 | |||||||||||||||
____________ | ||||||||||||||||||||||
-1 | The Europe segment is comprised of the Company’s operations in U.K. and Germany. | |||||||||||||||||||||
-2 | The Other International segment is comprised of the Company’s operations in Mexico and Canada. | |||||||||||||||||||||
Trade Name: indefinite-lived | ||||||||||||||||||||||
U.S. | Europe | Total | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||
Balance as of January 1, 2012 | $ | 200 | $ | 3,098 | $ | 3,298 | ||||||||||||||||
Foreign currency translation adjustments | — | 133 | 133 | |||||||||||||||||||
Balance as of December 31, 2012 | $ | 200 | $ | 3,231 | $ | 3,431 | ||||||||||||||||
Acquisitions | — | 513 | 513 | |||||||||||||||||||
Reclassification to definite-lived trade name | — | -3,298 | -3,298 | |||||||||||||||||||
Foreign currency translation adjustments | — | 114 | 114 | |||||||||||||||||||
Balance as of December 31, 2013 | $ | 200 | $ | 560 | $ | 760 | ||||||||||||||||
Intangible Assets with Definite Lives | ||||||||||||||||||||||
The following is a summary of the Company's intangible assets that were subject to amortization: | ||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||
Customer and branding contracts/relationships | $ | 276,140 | $ | -149,645 | $ | 126,495 | $ | 212,509 | $ | -125,920 | $ | 86,589 | ||||||||||
Deferred financing costs | 15,038 | -5,466 | 9,572 | 9,169 | -4,373 | 4,796 | ||||||||||||||||
Exclusive license agreements | 23,154 | -14,693 | 8,461 | 18,724 | -12,543 | 6,181 | ||||||||||||||||
Non-compete agreements | 4,075 | -2,437 | 1,638 | 2,822 | -1,246 | 1,576 | ||||||||||||||||
Technology | 2,827 | -775 | 2,052 | — | — | — | ||||||||||||||||
Trade name: definite-lived | 13,164 | -527 | 12,637 | — | — | — | ||||||||||||||||
Total | $ | 334,398 | $ | -173,543 | $ | 160,855 | $ | 243,224 | $ | -144,082 | $ | 99,142 | ||||||||||
The majority of the Company’s intangible assets with definite lives are being amortized over the assets’ estimated useful lives utilizing the straight-line method. Estimated useful lives range from four to ten years for customer and branding contracts/relationships, two to ten years for exclusive license agreements, one to five years for non-compete agreements, and one to fifteen years for finite-lived trade names. Estimated useful life for acquired technology is three years. Deferred financing costs are amortized through interest expense over the contractual term of the underlying borrowings utilizing the effective interest method. The Company periodically reviews the estimated useful lives of its identifiable intangible assets, taking into consideration any events or circumstances that might result in a reduction in fair value or a revision of those estimated useful lives. | ||||||||||||||||||||||
Amortization of definite-lived intangible assets is recorded in the amortization expense line item in the Consolidated Statements of Operations, including any impairment charges, except for deferred financing costs and certain exclusive license agreements. Amortization of deferred financing costs is recorded in the Consolidated Statements of Operations combined with amortization of note discount. Certain exclusive license agreements that were effectively prepayments of merchant fees were amortized through the cost of ATM operating revenues line item during the year ended December 31, 2013 and 2012, for $4.0 million and $1.9 million, respectively. The Company recorded approximately $0.1 million in additional amortization expense during the year ended December 31, 2011 related to the impairments of certain previously acquired merchant contract/relationship intangible assets associated with its U.S. reporting segment. No additional amortization was recorded during the years ended December 31, 2013 and 2012. | ||||||||||||||||||||||
The components of intangible assets acquired during the year ended December 31, 2013 were as follows: | ||||||||||||||||||||||
Amount Acquired in 2013 | Weighted Average Amortization Period | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||
Customer and branding contracts/relationships | $ | 62,800 | 7.0 years | |||||||||||||||||||
Non-compete agreements | 1,284 | 2.5 years | ||||||||||||||||||||
Technology | 2,852 | 3.0 years | ||||||||||||||||||||
Trade name: definite-lived | 9,867 | 14.8 years | ||||||||||||||||||||
Total | $ | 76,803 | ||||||||||||||||||||
Estimated amortization for the Company’s intangible assets with definite lives for each of the next five years, and thereafter is as follows (amounts in thousands): | ||||||||||||||||||||||
2014 | $ | 34,695 | ||||||||||||||||||||
2015 | 32,205 | |||||||||||||||||||||
2016 | 26,835 | |||||||||||||||||||||
2017 | 22,519 | |||||||||||||||||||||
2018 | 17,050 | |||||||||||||||||||||
Thereafter | 27,551 | |||||||||||||||||||||
Total | $ | 160,855 | ||||||||||||||||||||
Prepaid_Expenses_And_Other_Ass
Prepaid Expenses And Other Assets | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Prepaid Expense And Other Assets [Abstract] | ' | ||||||
Prepaid Expenses and Other Assets | ' | ||||||
(8) Prepaid Expenses and Other Assets | |||||||
The following is a summary of prepaid expenses, deferred costs, and other assets as of December 31, 2013 and 2012: | |||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Prepaid Expenses, Deferred Costs, and Other Current Assets: | |||||||
Prepaid expenses | $ | 12,412 | $ | 11,349 | |||
Deferred costs and other current assets | 7,747 | 19,631 | |||||
Total | $ | 20,159 | $ | 30,980 | |||
Prepaid Expenses, Deferred Costs, and Other Noncurrent Assets: | |||||||
Prepaid expenses | $ | 1,553 | $ | 224 | |||
Deferred costs | 776 | 1,507 | |||||
Other | 350 | 437 | |||||
Total | $ | 2,679 | $ | 2,168 | |||
As of December 31, 2012, the Company had $13.4 million recorded for an insurance recovery receivable. The Company collected this entire amount from its insurer in January 2013. | |||||||
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Accrued Liabilities [Abstract] | ' | ||||||
Accrued Liabilities | ' | ||||||
(9) Accrued Liabilities | |||||||
Accrued liabilities consisted of the following as of December 31, 2013 and 2012: | |||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Accrued merchant fees | $ | 32,619 | $ | 23,510 | |||
Accrued taxes | 23,033 | 1,794 | |||||
Accrued merchant settlement amounts | 17,365 | 9,255 | |||||
Accrued compensation | 12,501 | 9,524 | |||||
Accrued interest expense | 6,140 | 5,753 | |||||
Accrued armored fees | 5,271 | 4,628 | |||||
Accrued maintenance fees | 5,186 | 4,865 | |||||
Accrued cash rental and management fees | 4,570 | 4,067 | |||||
Accrued purchases | 2,392 | 2,084 | |||||
Accrued interest rate swap payments | 2,211 | 2,299 | |||||
Accrued ATM telecommunications costs | 1,682 | 1,254 | |||||
Accrued processing costs | 939 | 1,510 | |||||
Other accrued expenses | 23,867 | 9,569 | |||||
Total | $ | 137,776 | $ | 80,112 | |||
The increase in Accrued merchant settlement amounts was primarily related to the increase in merchant-owned arrangements as a result of acquisitions completed during 2013. The increase in the accrued taxes line above relates to increased estimated liabilities for U.K. business rates (similar to property taxes), which increased significantly during the third quarter of 2013 as the governmental agency responsible for assessing property values in the U.K. materially changed its approach for locating and assessing ATM sites and is now also seeking to recover assessments for prior periods dating back to 2010 for some of the Company’s ATM locations in the U.K. The Company has no statutory responsibility to self-assess property taxes in the U.K., but instead, must pay business rates invoices when they are invoiced. Prior to the third quarter of 2013, only a minority of its ATMs had been assessed business rates. The Company had $14.7 million in accrued property taxes in the U.K. as an estimate of the Company’s expected liability through December 31, 2013, based on the information available as of that date. The Company’s estimated liability is subject to change based on potential challenges associated with valuations of the assessments, possible legal challenges the Company may assert, the Company’s ability to recover a portion of the estimated costs for which the Company’s merchants are contractually liable, and other factors. | |||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Long-Term Debt [Abstract] | ' | |||||||||
Long-Term Debt | ' | |||||||||
(10) Long-Term Debt | ||||||||||
The carrying value of the Company's long-term debt consisted of the following as of December 31, 2013 and 2012 | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
8.25% Senior subordinated notes due September 2018 | $ | 200,000 | $ | 200,000 | ||||||
1.00% Convertible senior notes due December 2020 | 216,635 | — | ||||||||
Revolving credit facility, including swing-line credit facility (weighted-average combined interest rate of 2.5% and 2.2% as of December 31, 2013 and 2012, respectively) | 72,547 | 152,000 | ||||||||
Equipment financing notes | 1,332 | 2,819 | ||||||||
Total | 490,514 | 354,819 | ||||||||
Less: current portion | 1,289 | 1,467 | ||||||||
Total long-term debt, excluding current portion | $ | 489,225 | $ | 353,352 | ||||||
Revolving Credit Facility | ||||||||||
As of December 31, 2013, the Company's revolving credit facility provided for $375.0 million in borrowings and letters of credit (subject to the covenants contained within the facility) and had a termination date of July 15, 2016. The revolving credit facility was amended on August 5, 2013, in anticipation of the completion of the Cardpoint acquisition. This amendment expanded the borrowing capacity from $250.0 million to $375.0 million and amended certain covenants to allow for certain indebtedness, investments, acquisitions, intercompany loans and dispositions of assets made in connection with the Cardpoint acquisition. Further, the revolving credit facility was amended on November 18, 2013 to amend certain covenants to permit the issuance of (1) the $287.5 million 1.00% Convertible Senior Notes due 2020 (“Convertible Notes”), (2) the related convertible note hedge transactions, and (3) the related warrant transactions. Also amended were the covenants related to the performance of the Company’s obligations under the Convertible Notes, the related convertible note hedge transactions and the warrant transactions, and the repurchase of shares of the Company’s common stock concurrent with the issuance of the Convertible Notes (these transactions are further discussed below). There were no other material modifications made to the Company's revolving credit facility. | ||||||||||
This revolving credit facility includes a $15.0 million swing-line facility, an $85.0 million foreign currency sub-limit, and a $20.0 million letter of credit sub-limit. Borrowings under the facility bear interest at a variable rate, based upon the Company's total leverage ratio and the London Interbank Offered Rate ("LIBOR") or Alternative Base Rate (as defined in the agreement) at the Company's option. Additionally, the Company is required to pay a commitment fee on the unused portion of the revolving credit facility. Substantially all of the Company's assets, including the stock of its wholly-owned domestic subsidiaries and 66% of the stock of its foreign subsidiaries, are pledged to secure borrowings made under the revolving credit facility. Furthermore, each of the Company's domestic subsidiaries has guaranteed the Company's obligations under the revolving credit facility. There are currently no restrictions on the ability of the Company's wholly-owned subsidiaries to declare and pay dividends directly to us. | ||||||||||
The primary restrictive covenants within the facility include (1) limitations on the amount of senior debt and total debt that the Company can have outstanding at any given point in time and (2) the maintenance of a set ratio of earnings to fixed charges, as computed quarterly on a trailing 12-month basis. Additionally, the Company is limited on the amount of restricted payments, including dividends, which it can make pursuant to the terms of the revolving credit facility. These limitations are generally governed by a senior leverage ratio test and the existing fixed charge ratio covenant. | ||||||||||
The failure to comply with the covenants will constitute an event of default (subject, in the case of certain covenants, to applicable notice and/or cure periods) under the agreement. Other events of default under the agreement include, among other things, (1) the failure to timely pay principal, interest, fees or other amounts due and owing; (2) the inaccuracy of representations or warranties in any material respect; (3) the occurrence of certain bankruptcy or insolvency events; (4) loss of lien perfection or priority; and (5) the occurrence of a change in control. The occurrence and continuance of an event of default could result in, among other things, termination of the lenders' commitments and acceleration of all amounts outstanding. The Company's obligations under the credit agreement are guaranteed by certain of the Company's existing and future domestic subsidiaries, subject to certain limitations. In addition, the Company's obligations under the credit agreement, subject to certain exceptions, are secured on a first-priority basis by liens on substantially all of the tangible and intangible assets of the Company and the guarantors. As of December 31, 2013, the Company was in compliance with all applicable covenants and ratios under the revolving credit facility. | ||||||||||
As of December 31, 2013, $72.5 million was outstanding under the Company’s revolving credit facility, all of which was denominated in British pounds. Additionally, the Company has posted a $2.0 million letter of credit serving to secure the overdraft facility of its U.K. subsidiary (further discussed below) and a $0.1 million letter of credit serving to secure a third-party processing contract in Canada. These letters of credit, which the applicable third-parties may draw upon in the event the Company defaults on the related obligations, reduce the Company’s borrowing capacity under the revolving credit facility. As of December 31, 2013, the Company’s available borrowing capacity under the revolving credit facility totaled approximately $300.4 million. | ||||||||||
$200.0 Million 8.25% Senior Subordinated Notes Due 2018 | ||||||||||
The $200.0 million 8.25% senior subordinated notes due September 2018 (the "2018 Notes"), which are guaranteed by all of the Company's domestic subsidiaries, contain no maintenance covenants and only limited incurrence covenants, under which the Company has considerable flexibility. Interest under the 2018 Notes is paid semi-annually in arrears on March 1st and September 1st of each year. As of December 31, 2013, the Company was in compliance with all applicable covenants required under the 2018 Notes. | ||||||||||
$287.5 Million 1.00% Convertible Senior Notes Due 2020 and Related Equity Instruments | ||||||||||
On November 19, 2013, the Company issued $250.0 million of 1.00% convertible senior notes due December 2020 (the "Convertible Notes") at par value. The Company also granted to the initial purchasers the option to purchase, during the 13 day period following the issuance of the notes, up to an additional $37.5 million of Convertible Notes (the “Over-allotment Option”). The initial purchasers exercised the Over-allotment Option on November 21, 2013. The Company received $254.2 million in net proceeds from the offering after deducting underwriting fees paid to the initial purchasers and the amount paid to repurchase its outstanding common stock concurrently with the offering. The Company used a portion of the net proceeds from the offering and the warrant transaction to pay the net cost of the convertible note hedge transaction, as described below. The convertible note hedge and warrant transactions were entered into with the initial purchasers on November 19, 2013, concurrently with the pricing of the Convertible Notes, and on November 21, 2013, concurrently with the exercise of the Over-allotment Option. The Company pays interest semi-annually (payable in arrears) on June 1st and December 1st of each year, beginning on June 1, 2014. Under U.S. GAAP, certain convertible debt instruments that may be settled in cash (or other assets) upon conversion are required to be separately accounted for as liability (debt) and equity (conversion option) components of the instrument in a manner that reflects the issuer’s non-convertible debt borrowing rate. The Company, with assistance from a valuation professional, determined that the fair value of the debt component was $215.8 and the fair value of the embedded option was $71.7 million as of the issuance date. Under U.S. GAAP, the Company is required to recognize effective interest expense on the debt component and that interest expense effectively accretes the debt component to the total principal amount due at maturity of $287.5 million. The effective rate of interest to accrete the debt balance is approximately 5.26%, which corresponds to the Company’s estimated nonconvertible borrowing rate at the date of issuance. | ||||||||||
The Convertible Notes have an initial conversion price of $52.35 per share, which equals an initial conversion rate of 19.1022 shares of common stock per $1,000 principal amount of notes, for a total of approximately 5.5 million shares of our common stock initially underlying the debt. The conversion rate, however, is subject to adjustment under certain circumstances. Conversion can occur: (1) any time on or after September 1, 2020; (2) after March 31, 2014, during any calendar quarter that follows a calendar quarter in which the price of the Company’s common stock exceeds 135% of the conversion price for at least 20 days during the 30 consecutive trading-day period ending on the last trading day of the quarter; (3) during the ten consecutive trading-day period following any five consecutive trading-day period in which the trading price of the Convertible Notes is less than 98% of the closing price of the Company’s common stock multiplied by the applicable conversion rate on each such trading day; (4) upon specified distributions to the Company’s shareholders upon recapitalizations, reclassifications or changes in stock; and (5) upon a make-whole fundamental change. A fundamental change is defined as any one of the following: (1) any person or group that acquires 50% or more of the total voting power of all classes of common equity that is entitled to vote generally in the election of the Company’s directors; (2) the Company engages in any recapitalization, reclassification or changes of common stock as a result of which the common stock would be converted into or exchanged for, stock, other securities, or other assets or property; (3) the Company engages in any share exchange, consolidation or merger where the common stock is converted into cash, securities or other property; (4) the Company engages in any sales, lease or other transfer of all or substantially all of the consolidated assets; or (5) the Company’s stock is not listed for trading on any U.S. national securities exchange. | ||||||||||
As of December 31, 2013, none of the contingent conversion thresholds described above were met in order for the Convertible Notes to be convertible at the option of the note holders. As a result, the Convertible Notes have been classified as a noncurrent liability on the Company’s Consolidated Balance Sheets at December 31, 2013. In future financial reporting periods, the classification of the Convertible Notes may change depending on whether any of the above contingent criteria have been subsequently satisfied. | ||||||||||
Upon conversion, holders of the Convertible Notes are entitled to receive cash, shares of the Company’s common stock or a combination of cash and common stock, at the Company’s election. In the event of a change in control, as defined in the indenture under which the Convertible Notes have been issued, holders can require the Company to purchase all or a portion of their Convertible Notes for 100% of the notes' par value plus any accrued and unpaid interest. | ||||||||||
Interest expense related to with the Convertible Notes consisted of the following: | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Cash interest per contractual coupon rate | $ | 288 | $ | — | $ | — | ||||
Amortization of note discount | 848 | — | — | |||||||
Amortization of deferred financing costs | 48 | — | — | |||||||
Total interest expense related to Convertible Notes | $ | 1,184 | $ | — | $ | — | ||||
The carrying value of the Convertible Notes consisted of the following as of December 31, 2013 and 2012: | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
Principal balance | $ | 287,500 | $ | — | ||||||
Discount, net of accumulated amortization | -70,865 | — | ||||||||
Net carrying amount of Convertible Notes | $ | 216,635 | $ | — | ||||||
In connection with the issuance of the Convertible Notes, the Company entered into separate convertible note hedge and warrant transactions with certain of the initial purchasers to reduce the potential dilutive impact upon the conversion of the Convertible Notes. The net effect of these transactions effectively raised the price at which dilution would occur from the $52.35 initial conversion price of the Convertible Notes to $73.29. Pursuant to the convertible note hedge, the Company purchased call options granting the Company the right to acquire up to approximately 5.5 million shares of its common stock with an initial strike price of $52.35. The call options automatically become exercisable upon conversion of the Convertible Notes, and will terminate on the second scheduled trading day immediately preceding December 1, 2020. The Company also sold to the initial purchasers warrants to acquire up to approximately 5.5 million shares of its common stock with a strike price of $73.29. The warrants will expire incrementally on a series of expiration dates subsequent to the maturity date of the Convertible Notes through August 30, 2021. If the conversion price of the Convertible Notes remains between the strike prices of the call options and warrants, the Company’s shareholders will not experience any dilution in connection with the conversion of the Convertible Notes; however, to the extent that the price of the Company’s common stock exceeds the strike price of the warrants on any or all of the series of related expiration dates of the warrants, the Company will be required to issue additional shares of its common stock to the initial purchasers. The amounts allocated to both the note hedge and warrants were recorded in equity, as further described in Note 13, Stockholders’ Equity. | ||||||||||
Other Borrowing Facilities | ||||||||||
Cardtronics Mexico equipment financing agreements. Between 2007 and 2010, Cardtronics Mexico entered into several separate five-year equipment financing agreements with a single lender, of which four agreements have outstanding balances as of December 31, 2013. These agreements, which are denominated in pesos and bear interest at an average fixed rate of 9.94%, were utilized for the purchase of ATMs to support growth in the Company’s Mexico operations. As of December 31, 2013, approximately $17.4 million pesos ($1.3 million U.S.) were outstanding under the agreements. Pursuant to the terms of the loan agreements, the Company has issued guarantees for 51.0% of the obligations under these agreements (consistent with its ownership percentage in Cardtronics Mexico). As of December 31, 2013, the total amount of these guarantees was $8.9 million pesos ($0.7 million U.S.). | ||||||||||
U.K. overdraft facility. The Company’s U.K. operation has a £1.0 million overdraft facility. This overdraft facility, which bears interest at 1.0% over the bank’s base rate (0.5% as of December 31, 2013) and is secured by a letter of credit posted under the Company’s revolving credit facility as discussed above in the Revolving Credit Facility section, is utilized for general corporate purposes for the Company’s U.K. operations. As of December 31, 2013, there were no amounts outstanding under the overdraft facility. | ||||||||||
Debt Maturities | ||||||||||
Aggregate maturities of the principal amounts of the Company’s long-term debt as of December 31, 2013, were as follows (in thousands) for the years indicated: | ||||||||||
2014 | $ | 1,292 | ||||||||
2015 | 40 | |||||||||
2016 | 72,547 | |||||||||
2017 | — | |||||||||
2018 | 200,000 | |||||||||
Thereafter | 287,500 | |||||||||
Total | $ | 561,379 | ||||||||
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Asset Retirement Obligations [Abstract] | ' | ||||||
Asset Retirement Obligations | ' | ||||||
(11) Asset Retirement Obligations | |||||||
Asset retirement obligations consist primarily of costs to deinstall the Company's ATMs and costs to restore the ATM sites to their original condition, which are estimated based on current market rates. In most cases, the Company is contractually required to perform this deinstallation and restoration work. For each group of ATMs, the Company has recognized the fair value of the asset retirement obligation as a liability on its balance sheet and capitalized that cost as part of the cost basis of the related asset. The related assets are depreciated on a straight-line basis over five years, which is the estimated average time period that an ATM is installed in a location before being deinstalled, and the related liabilities are accreted to their full value over the same period of time. As reflected in the table below, during the year ended December 31, 2013, the Company revised its estimated future liabilities based on recent actual experience, changes in certain customer-specific estimates and other cost estimate changes. The changes in estimated future costs were recorded as a reduction in the carrying amount of the remaining unamortized asset and reduce the Company’s depreciation and accretion expense amounts prospectively. Additionally, as of December 31, 2013, the Company reclassified a portion of the liabilities as current, which is included in the Current portion of other long-term liabilities line item in the accompanying Consolidated Balance Sheets. A portion of the liabilities as of December 31, 2012 was also reclassified as current, although the total amount of liabilities was unchanged. | |||||||
The following table is a summary of the changes in the Company's asset retirement obligation liability for the years ended December 31, 2013 and 2012: | |||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Asset retirement obligation as of beginning of period | $ | 44,696 | $ | 34,517 | |||
Additional obligations | 6,399 | 10,303 | |||||
Estimated obligations assumed in Cardpoint acquisition | 18,494 | — | |||||
Accretion expense | 2,777 | 2,602 | |||||
Change in estimates | -6,477 | — | |||||
Payments | -2,495 | -3,510 | |||||
Foreign currency translation adjustments | 437 | 784 | |||||
Total asset retirement obligation at end of period | 63,831 | 44,696 | |||||
Less: current portion | 3,166 | 2,834 | |||||
Asset retirement obligation, excluding current portion | $ | 60,665 | $ | 41,862 | |||
See Note 16, Fair Value Measurements for additional disclosures on the Company's asset retirement obligations with respect to its fair value measurements. | |||||||
Other_Liabilities
Other Liabilities | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Other Liabilities [Abstract] | ' | ||||||
Other Liabilities | ' | ||||||
(12) Other Liabilities | |||||||
The following is a summary of the components of the Company’s other liabilities as of December 31, 2013 and 2012: | |||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Current Portion of Other Long-Term Liabilities: | |||||||
Interest rate swaps | $ | 31,069 | $ | 23,117 | |||
Deferred revenue | 1,315 | 835 | |||||
Asset retirement obligations | 3,166 | 2,834 | |||||
Other | 47 | 434 | |||||
Total | $ | 35,597 | $ | 27,220 | |||
Other Long-Term Liabilities: | |||||||
Interest rate swaps | $ | 34,509 | $ | 84,973 | |||
Obligations associated with acquired unfavorable contracts | — | 964 | |||||
Deferred revenue | 962 | 1,353 | |||||
Other | 3,265 | 5,831 | |||||
Total | $ | 38,736 | $ | 93,121 | |||
Other long-term liabilities related to interest rate swaps decreased significantly from December 31, 2012 to December 31, 2013 mostly as a result of changes (increases) in forward interest rate curves since December 31, 2012. See Note 15, Derivative Financial Instruments for additional information on the Company's interest rate swaps. | |||||||
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Loss [Abstract] | ' | |||||||||
Stockholders' Equity | ' | |||||||||
(13) Stockholders’ Equity | ||||||||||
Common and Preferred Stock. The Company is authorized to issue 125,000,000 shares of common stock, of which 44,375,952 and 44,641,224 shares were outstanding as of December 31, 2013 and 2012, respectively. Additionally, the Company is authorized to issue 10,000,000 shares of preferred stock, of which no shares were outstanding as of December 31, 2013 and 2012. | ||||||||||
Additional Paid-In Capital. Included in the balance of Additional paid-in capital are amounts related to the Convertible Notes issued in November 2013 and the related equity instruments. These amounts include: (1) the fair value of the embedded option of the Convertible Notes for $71.7 million, (2) the amount paid to purchase the associated convertible note hedges for $72.6 million, (3) the amount received for selling associated warrants for $40.5 million, and (4) $1.7 million in debt issuance costs allocated to the equity component of the convertible note. See Note 10, Long-Term Debt for additional information on the Convertible Notes and the related equity instruments. | ||||||||||
Accumulated Other Comprehensive Loss, Net. Accumulated other comprehensive loss, net, is displayed as a separate component of Stockholders' equity in the accompanying Consolidated Balance Sheets. The following table presents the changes in the balances of each component of accumulated other comprehensive loss, net for the years ended December 31, 2013, 2012, and 2011: | ||||||||||
Foreign currency translation adjustments | Unrealized (losses) gains on interest rate swap contracts, net of tax | Total | ||||||||
(In thousands) | ||||||||||
Total accumulated other comprehensive loss, net as of January 1, 2011 | $ | -26,569 | $ | -38,484 | -1 | $ | -65,053 | |||
Other comprehensive loss before reclassification | -566 | -41,960 | -2 | -42,526 | ||||||
Amounts reclassified from accumulated other comprehensive loss, net | — | 23,677 | -2 | 23,677 | ||||||
Total accumulated other comprehensive loss, net as of December 31, 2011 | $ | -27,135 | $ | -56,767 | -1 | $ | -83,902 | |||
Other comprehensive income (loss) before reclassification | 2,501 | -49,485 | -3 | -46,984 | ||||||
Amounts reclassified from accumulated other comprehensive loss, net | — | 25,801 | -3 | 25,801 | ||||||
Total accumulated other comprehensive loss, net as of December 31, 2012 | $ | -24,634 | $ | -80,451 | -1 | $ | -105,085 | |||
Other comprehensive income before reclassification | 6,198 | 62 | -4 | 6,260 | ||||||
Amounts reclassified from accumulated other comprehensive loss, net | — | 25,871 | -4 | 25,871 | ||||||
Total accumulated other comprehensive loss, net as of December 31, 2013 | $ | -18,436 | $ | -54,518 | -1 | $ | -72,954 | |||
___________ | ||||||||||
(1) Net of deferred income tax benefit of $1,383 as of January 1, 2011, and $12,602, $27,413, and $10,829 as of December 31, 2011, 2012, and 2013, respectively. | ||||||||||
(2) Net of deferred income tax benefit of $25,748 for Other comprehensive income before reclassification and deferred income tax expense of $14,529 for Amounts reclassified from accumulated other comprehensive loss, net, for the year ended December 31, 2011. | ||||||||||
(3) Net of deferred income tax benefit of $30,946 for Other comprehensive income before reclassification and deferred income tax expense of $16,135 for Amounts reclassified from accumulated other comprehensive loss, net, for the year ended December 31, 2012. | ||||||||||
(4) Net of deferred income tax expense of $40 for Other comprehensive income before reclassification and deferred income tax expense of $16,544 for Amounts reclassified from accumulated other comprehensive loss, net, respectively, for the year ended December 31, 2013. | ||||||||||
The Company records unrealized gains and losses related to its interest rate swaps net of estimated taxes in the Accumulated other comprehensive loss, net, line item within Stockholders' equity in the accompanying Consolidated Balance Sheets since it is more likely than not that the Company will be able to realize the benefits associated with its net deferred tax asset positions in the future. The amounts reclassified from accumulated other comprehensive loss, net are recognized in Cost of ATM operating revenues line item on the accompanying Consolidated Statements of Operations. | ||||||||||
The Company currently believes that the unremitted earnings of its foreign subsidiaries will be reinvested for an indefinite period of time. Accordingly, no deferred taxes have been provided for the differences between the Company's book basis and underlying tax basis in these subsidiaries or on the foreign currency translation adjustment amounts. | ||||||||||
Employee_Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2013 | |
Employee Benefits [Abstract] | ' |
Employee Benefits | ' |
(14) Employee Benefits | |
The Company sponsors defined contribution retirement plans for its employees, the principal plan being the 401(k) plan which is offered to its employees in the U.S. During 2013, the Company matched 50% of employee contributions up to 4% of the employee’s eligible compensation (for a maximum matching contribution of 2% of the employee’s eligible compensation by the Company). Employees immediately vest in their contributions while the Company’s matching contributions vest at a rate of 20% per year. The Company also sponsors a similar plan for its employees in the U.K. The Company contributed $0.7 million, $0.6 million, and $0.4 million to the defined contribution benefit plans for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Derivative Financial Instruments [Abstract] | ' | ||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||
(15) Derivative Financial Instruments | |||||||||||||||
Cash Flow Hedging Strategy | |||||||||||||||
The Company is exposed to certain risks relating to its ongoing business operations, including interest rate risk associated with its vault cash rental obligations and, to a lesser extent, borrowings under its revolving credit facility. The Company is also exposed to foreign currency exchange rate risk with respect to its investments in its foreign subsidiaries. While the Company does not currently utilize derivative instruments to hedge its foreign currency exchange rate risk, it does utilize interest rate swap contracts to manage the interest rate risk associated with its vault cash rental obligations in the U.S. The Company’s interest rate swap contracts to manage its vault cash rental interest rate risk in the U.K. expired as of December 31, 2013. The Company does not currently utilize any derivative instruments to manage the interest rate risk associated with its vault cash rental obligations in any of the other international subsidiaries, nor does it utilize derivative instruments to manage the interest rate risk associated with borrowings outstanding under its revolving credit facility. | |||||||||||||||
The interest rate swap contracts entered into with respect to the Company's vault cash rental obligations serve to mitigate the Company's exposure to interest rate risk by converting a portion of the Company's monthly floating rate vault cash rental obligations to a fixed rate. The Company has contracts in varying notional amounts through December 31, 2018 for the Company's U.S. vault cash rental obligations. By converting such amounts to a fixed rate, the impact of future interest rate changes (both favorable and unfavorable) on the Company's monthly vault cash rental expense amounts has been reduced. The interest rate swap contracts typically involve the receipt of floating rate amounts from the Company's counterparties that match, in all material respects, the floating rate amounts required to be paid by the Company to its vault cash providers for the portions of the Company's outstanding vault cash obligations that have been hedged. In return, the Company typically pays the interest rate swap counterparties a fixed rate amount per month based on the same notional amounts outstanding. At no point is there an exchange of the underlying principal or notional amounts associated with the interest rate swaps. Additionally, none of the Company's existing interest rate swap contracts contain credit-risk-related contingent features. | |||||||||||||||
For each derivative instrument that is designated and qualifies as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) (“OCI”) and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedge transaction affects earnings. Gains and losses on the derivative instrument representing either hedge ineffectiveness or hedge components that are excluded from the assessment of effectiveness are recognized in earnings. However, because the Company currently only utilizes fixed-for-floating interest rate swaps in which the underlying pricing terms agree, in all material respects, with the pricing terms of the Company’s vault cash rental obligations, the amount of ineffectiveness associated with such interest rate swap contracts has historically been immaterial. Accordingly, no ineffectiveness amounts associated with the Company’s effective cash flow hedges have been recorded in the Company’s consolidated financial statements. For derivative instruments not designated as hedging instruments, the gain or loss is recognized in the Consolidated Statements of Operations during the current period. | |||||||||||||||
The notional amounts, weighted average fixed rates, and terms associated with the Company's interest rate swap contracts accounted for as cash flow hedges that are currently in place (as of the date of the issuance of these financial statements) are as follows: | |||||||||||||||
Notional Amounts | Weighted Average Fixed Rate | Term | |||||||||||||
(In millions) | |||||||||||||||
$ | 1,250 | 2.98 | % | January 1, 2014 – December 31, 2014 | |||||||||||
$ | 1,300 | 2.84 | % | January 1, 2015 – December 31, 2015 | |||||||||||
$ | 1,300 | 2.74 | % | January 1, 2016 – December 31, 2016 | |||||||||||
$ | 1,000 | 2.53 | % | January 1, 2017 – December 31, 2017 | |||||||||||
$ | 750 | 2.54 | % | January 1, 2018 – December 31, 2018 | |||||||||||
Accounting Policy | |||||||||||||||
The Company recognizes all of its derivative instruments as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The accounting for changes in the fair value (e.g., gains or losses) of those derivative instruments depends on (1) whether these instruments have been designated (and qualify) as part of a hedging relationship and (2) the type of hedging relationship actually designated. For derivative instruments that are designated and qualify as hedging instruments, the Company designates the hedging instrument, based upon the exposure being hedged, as a cash flow hedge, a fair value hedge, or a hedge of a net investment in a foreign operation. | |||||||||||||||
The Company has designated all of its interest rate swap contracts as cash flow hedges of the Company’s forecasted vault cash rental obligations. Accordingly, changes in the fair values of the related interest rate swap contracts have been reported in the Accumulated other comprehensive loss, net line item within stockholders’ equity in the accompanying Consolidated Balance Sheets. | |||||||||||||||
The Company believes that it is more likely than not that it will be able to realize the benefits associated with its domestic net deferred tax asset positions in the future. Therefore, the Company records the unrealized losses related to its domestic interest rate swaps net of estimated tax benefits in the Accumulated other comprehensive loss, net line item within Stockholders' equity in the accompanying Consolidated Balance Sheets. | |||||||||||||||
Tabular Disclosures | |||||||||||||||
The following tables depict the effects of the use of the Company's derivative contracts on its Consolidated Balance Sheets and Consolidated Statements of Operations. | |||||||||||||||
Balance Sheet Data | |||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||||||||
Liability Derivative Instruments: | (In thousands) | ||||||||||||||
Derivatives Designated as Hedging Instruments: | |||||||||||||||
Interest rate swap contracts | Current portion of other long-term liabilities | $ | 31,069 | Current portion of other long-term liabilities | $ | 23,117 | |||||||||
Interest rate swap contracts | Other long-term liabilities | 34,509 | Other long-term liabilities | 84,973 | |||||||||||
Total Derivatives | $ | 65,578 | $ | 108,090 | |||||||||||
Statements of Operations Data | |||||||||||||||
Years Ended December 31, | |||||||||||||||
Derivatives in Cash Flow Hedging Relationship | Amount of Gain (Loss) Recognized in OCI on Derivative Instruments (Effective Portion) | Location of Loss Reclassed from Accumulated OCI Into Income (Effective Portion) | Amount of Loss Reclassified from Accumulated OCI into Income | ||||||||||||
(Effective Portion) | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||
(In thousands) | (In thousands) | ||||||||||||||
Interest rate swap contracts | $ | 62 | $ | -49,486 | Cost of ATM operating revenues | $ | -25,871 | $ | -26,167 | ||||||
The Company does not currently have any derivative instruments that have been designated as fair value or net investment hedges. The Company has not historically, and does not currently anticipate terminating its existing derivative instruments prior to their expiration dates. If the Company concludes that it is no longer probable that the anticipated future vault cash rental obligations that have been hedged will occur, or if changes are made to the underlying terms and conditions of the Company's vault cash rental agreements, thus creating some amount of ineffectiveness associated with the Company's current interest rate swap contracts, any resulting gains or losses will be recognized within the Other expense (income) line item of the Company's Consolidated Statements of Operations. | |||||||||||||||
As of December 31, 2013, the Company expected to reclassify $31.1 million of net derivative-related losses contained within accumulated OCI into earnings during the next twelve months concurrent with the recording of the related vault cash rental expense amounts. | |||||||||||||||
See Note 16, Fair Value Measurements for additional disclosures on the Company's interest rate swap contracts in respect to its fair value measurements. | |||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
(16) Fair Value Measurements | |||||||||||||
The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2013 and 2012 using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant non-observable inputs. An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. | |||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | |||||||||||||
Liabilities | |||||||||||||
Liabilities associated with interest rate swaps | $ | 65,578 | $ | — | $ | 65,578 | $ | — | |||||
Acquisition-related contingent consideration | 575 | — | — | 575 | |||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | |||||||||||||
Liabilities | |||||||||||||
Liabilities associated with interest rate swaps | $ | 108,090 | $ | — | $ | 108,090 | $ | — | |||||
Acquisition-related contingent consideration | 3,455 | — | — | 3,455 | |||||||||
Additions to asset retirement obligation liability. The Company estimates the fair value of additions to its asset retirement obligation liability using expected future cash outflows discounted at the Company’s credit-adjusted risk-free interest rate. Liabilities added to the asset retirement obligations line item in the accompanying Consolidated Balance Sheets are measured at fair value at the time of the asset installations using Level 3 inputs, and are only reevaluated periodically based on estimated current fair value. Amounts added to the asset retirement obligation liability during the years ended December 31, 2013, 2012 and 2011 totaled $24.9 million, $10.3 million, and $8.7 million, respectively. The substantial increase in 2013 relates primarily to estimated liabilities assumed in conjunction with the Company’s acquisition of Cardpoint in August 2013. | |||||||||||||
Below are descriptions of the Company's valuation methodologies for assets and liabilities measured at fair value. The methods described below may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. | |||||||||||||
Cash and cash equivalents, accounts and notes receivable, net of the allowance for doubtful accounts, other current assets, accounts payable, accrued expenses, and other current liabilities. These financial instruments are not carried at fair value, but are carried at amounts that approximate fair value due to their short-term nature and generally negligible credit risk. | |||||||||||||
Acquisition-related intangible assets. The estimated fair values of acquisition-related intangible assets are valued based on a discounted cash flows analysis using significant non-observable inputs (Level 3 inputs). The Company tests intangible assets for impairment on a quarterly basis by measuring the related carrying amounts against the estimated undiscounted future cash flows associated with the related contract or portfolio of contracts. | |||||||||||||
Interest rate swaps. The fair value of the Company's interest rate swaps was a liability of $65.6 million as of December 31, 2013. These financial instruments are carried at fair value, calculated as the present value of amounts estimated to be received or paid to a marketplace participant in a selling transaction. These derivatives are valued using pricing models based on significant other observable inputs (Level 2 inputs), while taking into account the creditworthiness of the party that is in the liability position with respect to each trade. See Note 15, Derivative Financial Instruments for additional disclosures on the valuation process of this liability. | |||||||||||||
Acquisition-related contingent consideration. Liabilities from acquisition-related contingent consideration are estimated by the Company using a discounted cash flow model. Acquisition-related contingent consideration liabilities are classified as Level 3 liabilities, because the Company uses unobservable inputs to value them, based on its best estimate of operational results upon which the payment of these obligations are contingent. Gains and losses related to the contingent consideration associated with acquisitions are included in other (income) expenses in the Company’s consolidated statements of operations. | |||||||||||||
Long-term debt. The carrying amount of the long-term debt balance related to borrowings under the Company's revolving credit facility approximates fair value due to the fact that any borrowings are subject to short-term floating interest rates. As of December 31, 2013, the fair value of the Company's 2018 Notes and 2020 Convertible Notes (see Note 10, Long-Term Debt) totaled $214.8 million and $288.5 million, respectively, based on the quoted market price (Level 1 input) for these notes as of that date. | |||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Commitments And Contingencies [Abstract] | ' | ||
Commitments And Contingencies | ' | ||
(17) Commitments and Contingencies | |||
Legal Matters | |||
Automated Transactions. On August 16, 2010, a lawsuit was filed in the U.S. District Court for the District of Delaware (the “District Court”) entitled Automated Transactions LLC (“ATL”) v. IYG Holding Co., et al. 10 Civ. 0691 (D. Del.) (the "2010 Lawsuit"). The 2010 Lawsuit names the Company's wholly-owned subsidiary, Cardtronics USA, Inc. (“Cardtronics USA”), as one of the defendants. The 2010 Lawsuit alleges that Cardtronics USA and the other defendants infringed upon seven of the plaintiff's patents by providing retail transactions to consumers through their ATMs. The plaintiff, ATL, is seeking a permanent injunction, damages, treble damages and costs, including attorney's fees and expenses. The allegations raised by the plaintiff in this suit are similar to the allegations made by the same plaintiff in a suit filed in January 2006 (the "2006 Lawsuit") in the District Court against 7-Eleven, Inc. (“7-Eleven”) concerning six of the same seven patents. In July 2007, when the Company acquired the 7-Eleven portfolio, the Company became subject to the 2006 Lawsuit. The ATM supplier in that case agreed to indemnify 7-Eleven against the plaintiff's claims. That indemnity was assigned by 7-Eleven to the Company, and the supplier acknowledged that assignment. | |||
The 2010 Lawsuit was initially stayed by order of the District Court pending the outcome of the 2006 Lawsuit. In the 2006 Lawsuit, following the Company’s submission for summary judgment the District Court found that the defendants did not infringe the claims asserted in any of the plaintiff's five patents (the allegations as to the sixth patent having been dismissed earlier). In addition, the District Court granted the defendants partial summary judgment, concluding that the plaintiff's patent claims were, in part, invalid and rendered other findings so as to materially weaken the plaintiff's case. In addition, on January 28, 2011, the U.S. Patent and Trademark Office Board of Patent Appeals and Interferences ("BPAI") issued a decision affirming the rejection on the grounds of obviousness of all the claims relating to one of the patents asserted by the plaintiff in both the 2006 Lawsuit and the 2010 Lawsuit. The plaintiff appealed both of these rulings to the U.S. Court of Appeals for the Federal Circuit (the “Court of Appeals”). On April 23, 2012, the Court of Appeals rendered a decision that affirmed both the District Court’s rulings and the BPAI decision (the “Appeals Decision”). ATL’s request for rehearing of the Appeals Decision was denied. As a consequence, the 2006 Lawsuit has been effectively resolved in the Company’s favor pending entry of a formal final judgment. Furthermore, though the Appeals Decision in the 2006 Lawsuit does not formally terminate the 2010 Lawsuit, the findings set forth in the Appeals Decision should also resolve in favor of the Company all of the claims made involving the same patents as had been asserted in the 2006 Lawsuit. The Appeals Decision should also materially weaken the plaintiff’s claims in the two remaining patents in the 2010 Lawsuit, which has been consolidated with the 2006 Lawsuit and resumed. | |||
Notwithstanding the outcome of the 2006 Lawsuit, ATL initiated several new patent infringement lawsuits against other companies, based on “child” patents of the parent patent which are at issue in the 2006 Lawsuit and the 2010 Lawsuit. The asserted claims of the parent patent have already been held invalid in the Appeals Decision. The claims of infringement of the child patents are substantially similar to the prior claims under the parent and other child patents, i.e. the ATMs allowed the cardholders to access the internet and to conduct retail transactions at the ATM that were asserted by the defendants to be non-routine banking transactions. Two of those new cases were brought in the District Court for the Southern District of New York (“New York District Court”) and named as defendants, two customers of the Company under ATM placement agreements pursuant to which the Company operates ATMs alleged to infringe ATL’s child patents. Until resolved, these cases implicate the Company in defending its customers where these ATMs are placed and could involve ATL alleging new claims directly against the Company. The Company has joined as a defendant in both of those cases and asserted counterclaims against ATL for invalidity, non-infringement and requesting costs and attorneys’ fees for improperly bringing such a suit. On January 17, 2013, the Court in one case agreed with the Company’s request to transfer the case for all purposes to the District Court because of that Court’s familiarity with the patents in suit. Subsequently, the Judicial Panel on Multidistrict Litigation transferred the other case against the Company’s customer, along with many other ATL cases filed in other district courts, to the District Court for consolidated pretrial proceedings, and the Company then joined that action as a defendant and counterclaimant, as noted above. | |||
On April 1, 2013, a panel for the U.S. Judicial Panel on Multidistrict Litigation, over ATL’s objection, transferred eight other suits involving ATL’s parent patent and 12 child patents and several different types of ATMs to the District Court to be consolidated or coordinated before the judge who had previously decided the 2006 Lawsuit against ATL. In addition, the other action still pending in New York District Court against the Company’s customer, noted above, was also transferred to that judge, along with other ATL cases deemed to be “tag along” actions to the cases already transferred. The District Court has issued a scheduling order pursuant to which discovery will be conducted and all pre-trial motions have been scheduled to be submitted by June 19, 2015. Under that order, trial for these matters has not been set. | |||
The Company believes that these ATL lawsuits have no merit, primarily because the asserted child patents have patent claims or limitations previously held invalid or not infringed by the Appeals Decision. Accordingly, the Company does not expect that the remaining lawsuits will have a material impact on its financial condition or results of operations, and the Company will continue to vigorously defend its position. | |||
National Federation of the Blind. Through its acquisition of the E*Trade ATM portfolio, the Company became the sole defendant in the June 2003 lawsuit filed by the National Federation of the Blind, the Commonwealth of Massachusetts, et. al. and certain individuals representing a class of similarly situated persons (the "Plaintiffs") against E*Trade Access, Inc., et al. in the U.S. District Court for the District of Massachusetts (“Massachusetts District Court”): Civil Action No. 03-11206-NMG (the “Lawsuit”). The Plaintiffs sought to require, among other things, that ATMs deployed by E*Trade be voice-guided. In December 2007, the Company and Plaintiffs entered into a settlement agreement (as modified in November 2010, the "Settlement Agreement"). In 2011, the Plaintiffs filed a motion of contempt with the Massachusetts District Court alleging that the Company had failed to fully comply with the requirements of the Settlement Agreement. On December 15, 2011, the Massachusetts District Court issued an order that required the Company to bring all of its ATMs in compliance with the terms of the Settlement Agreement by March 15, 2012. In August 2012, the Plaintiffs filed their second motion of contempt, which alleged, among other things, that the Company had failed to meet the Massachusetts District Court’s deadline and sought a fine of $50 per ATM for each month that the Massachusetts District Court determined the Company was not in compliance. | |||
In March 2013, the Massachusetts District Court issued an order that stated that sanctions would be imposed, but did not specify what violations had occurred. In April 2013, the Massachusetts District Court appointed a Special Master to determine how many of the Company’s ATMs were not in compliance with the Settlement Agreement as of March 15, 2012 and to determine an appropriate sanction or fine for such compliance, if any. Since his appointment, the Special Master has met three times with all the parties, reviewed all matters thought relevant by him and in December 2013, filed under seal his Report and Recommendation with the Court. The parties have until March 21, 2014 to file any objection to the report or to enter into any further mutually agreed modification to the Settlement Agreement. The Company does not expect the outcome of this matter to have a material adverse effect upon its financial statements. | |||
In addition to the above legal proceedings, the Company is subject to various legal proceedings and claims arising in the ordinary course of its business. The Company has provided reserves where necessary for all claims and the Company's management does not expect the outcome in any of these legal proceedings, individually or collectively, to have a material adverse impact on the Company's financial condition or results of operations. Additionally, the Company currently expenses all legal costs as they are incurred. | |||
Operating Lease Obligations | |||
The Company was a party to several operating leases as of December 31, 2013, primarily for office space and the rental of space at certain merchant locations. | |||
Future minimum lease payments under the Company’s operating and merchant space leases (with initial lease terms in excess of one year) as of December 31, 2013 were as follows for each of the five years indicated and in the aggregate thereafter (amounts in thousands): | |||
2014 | $ | 8,284 | |
2015 | 6,098 | ||
2016 | 3,568 | ||
2017 | 2,739 | ||
2018 | 2,439 | ||
Thereafter | 3,721 | ||
Total minimum lease payments | $ | 26,849 | |
Total rental expense under the Company’s operating leases, net of sublease income, was approximately $7.2 million, $6.7 million, and $6.3 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |||
Other Commitments | |||
Asset Retirement Obligations. The Company's asset retirement obligations consist primarily of deinstallation costs of the ATM and costs to restore the ATM site to its original condition. In most cases, the Company is legally required to perform this deinstallation and restoration work. The Company had $63.8 million accrued for these liabilities as of December 31, 2013. For additional information, see Note 11, Asset Retirement Obligations. | |||
Purchase commitments. As of December 31, 2013, the Company had entered into an agreement to purchase $1.3 million of ATM parts for its U.S. segment and $3.9 million of ATMs and equipment for its Europe segment during 2014. Other material purchase commitments as of December 31, 2013 included $3.2 million in minimum service requirements for certain gateway and processing fees over the next four years for its U.S. segment. | |||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||
(18) Income Taxes | |||||||||||||||||||
Income tax expense (benefit) based on the Company’s income before income taxes consisted of the following for the years ended December 31, 2013, 2012, and 2011: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
Current: | |||||||||||||||||||
U.S. federal | $ | 26,766 | $ | 503 | $ | -86 | |||||||||||||
State and local | 5,503 | 812 | 1,774 | ||||||||||||||||
Foreign | 1,216 | — | — | ||||||||||||||||
Total current | $ | 33,485 | $ | 1,315 | $ | 1,688 | |||||||||||||
Deferred: | |||||||||||||||||||
U.S. federal | $ | 11,648 | $ | 24,005 | $ | -12,025 | |||||||||||||
State and local | -1,901 | 1,749 | -2,839 | ||||||||||||||||
Foreign | -1,214 | -60 | — | ||||||||||||||||
Total deferred | 8,533 | 25,694 | -14,864 | ||||||||||||||||
Total income tax expense (benefit) | $ | 42,018 | $ | 27,009 | $ | -13,176 | |||||||||||||
Income tax expense (benefit) differs from amounts computed by applying the U.S. federal statutory tax rate to income before taxes as follows for the years ended December 31, 2013, 2012, and 2011: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
Income tax expense, at the statutory rate of 35.0% | $ | 21,932 | $ | 24,595 | $ | 19,940 | |||||||||||||
Provision to return and deferred tax adjustments | -1,637 | 200 | -190 | ||||||||||||||||
Change in federal and state effective tax rates | — | — | -780 | ||||||||||||||||
State tax, net of federal benefit | 2,275 | 1,858 | 2,418 | ||||||||||||||||
Permanent adjustments | -115 | 322 | 341 | ||||||||||||||||
Foreign subsidiary tax rate differences | 1,252 | 120 | 139 | ||||||||||||||||
Impact of entity restructuring | 15,501 | — | -37,019 | ||||||||||||||||
Foreign subsidiary change in statutory rate | — | — | 524 | ||||||||||||||||
Other | -6 | 67 | 256 | ||||||||||||||||
Subtotal | 39,202 | 27,162 | -14,371 | ||||||||||||||||
Change in valuation allowance | 2,816 | -153 | 1,195 | ||||||||||||||||
Total income tax expense (benefit) | $ | 42,018 | $ | 27,009 | $ | -13,176 | |||||||||||||
Income tax expense for the year ended December 31, 2013 relates primarily to the consolidated income generated from the Company’s U.S. operations and tax structure changes during the year. The significant expense and effective tax rate increase for the year ended December 31, 2013 when compared to the same period in 2012 was primarily due to: (1) restructuring of its U.K. operations during the third quarter of 2013, which resulted in the recognition of a $13.8 million income tax charge associated with its U.K. restructuring in the third quarter, which primarily relates to deferred tax assets that are no longer realizable as a result of the restructuring; (2) operating losses in certain foreign operations for which the Company does not record a tax benefit, as a result of carrying a valuation allowance on those deferred tax assets; (3) certain current year losses on its U.S. tax return that cannot be recognized as a result of the U.K. restructuring; and (4) certain non-deductible acquisition costs. The Company continues to maintain valuation allowances for its local net deferred tax asset positions for certain of its entities in the U.K. and Mexico, as it currently believes that it is more likely than not that these tax assets will not be realized. | |||||||||||||||||||
The net current and noncurrent deferred tax assets and liabilities (by segment) as of December 31, 2013 and 2012 were as follows: | |||||||||||||||||||
United States | Europe | Other International | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||||
Current deferred tax asset | $ | 17,652 | $ | 12,839 | $ | 3,576 | $ | 107 | $ | 171 | $ | 395 | |||||||
Valuation allowance | — | — | -70 | -75 | -88 | -11 | |||||||||||||
Current deferred tax liability | -2 | -62 | -1,188 | -1,286 | — | — | |||||||||||||
Net current deferred tax asset (liability) | 17,650 | 12,777 | 2,318 | -1,254 | 83 | 384 | |||||||||||||
Noncurrent deferred tax asset | 31,414 | 55,704 | 24,487 | 14,888 | 3,945 | 2,341 | |||||||||||||
Valuation allowance | — | — | -9,900 | -10,233 | -2,008 | -244 | |||||||||||||
Noncurrent deferred tax liability | -36,264 | -30,348 | -5,909 | -3,401 | -1,755 | -2,421 | |||||||||||||
Net noncurrent deferred tax (liability) asset | -4,850 | 25,356 | 8,678 | 1,254 | 182 | -324 | |||||||||||||
Net deferred tax asset (liability) | $ | 12,800 | $ | 38,133 | $ | 10,996 | $ | — | $ | 265 | $ | 60 | |||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2013 and 2012 were as follows: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
(In thousands) | |||||||||||||||||||
Current deferred tax assets: | |||||||||||||||||||
Reserve for receivables | $ | 258 | $ | 218 | |||||||||||||||
Accrued liabilities and inventory reserves | 5,069 | 3,813 | |||||||||||||||||
Net operating loss carryforward | 3,614 | 375 | |||||||||||||||||
Unrealized losses on interest rate swap contracts | 12,197 | 8,677 | |||||||||||||||||
Other | 261 | 258 | |||||||||||||||||
Subtotal | 21,399 | 13,341 | |||||||||||||||||
Valuation allowance | -158 | -86 | |||||||||||||||||
Current deferred tax assets | 21,241 | 13,255 | |||||||||||||||||
Noncurrent deferred tax assets: | |||||||||||||||||||
Net operating loss carryforward | 17,350 | 4,434 | |||||||||||||||||
Unrealized loss on interest rate swap contracts | 13,548 | 32,916 | |||||||||||||||||
Stock-based compensation | 6,111 | 4,819 | |||||||||||||||||
Asset retirement obligations | 2,434 | 4,963 | |||||||||||||||||
Tangible and intangible assets | 15,970 | 24,065 | |||||||||||||||||
Deferred revenue | 798 | 138 | |||||||||||||||||
Other | 3,635 | 1,598 | |||||||||||||||||
Subtotal | 59,846 | 72,933 | |||||||||||||||||
Valuation allowance | -11,908 | -10,477 | |||||||||||||||||
Noncurrent deferred tax assets | 47,938 | 62,456 | |||||||||||||||||
Current deferred tax liabilities: | |||||||||||||||||||
Other | -1,190 | -1,348 | |||||||||||||||||
Current deferred tax liabilities | -1,190 | -1,348 | |||||||||||||||||
Noncurrent deferred tax liabilities: | |||||||||||||||||||
Tangible and intangible assets | -41,303 | -33,441 | |||||||||||||||||
Asset retirement obligations | -2,625 | -2,729 | |||||||||||||||||
Noncurrent deferred tax liabilities | -43,928 | -36,170 | |||||||||||||||||
Net deferred tax asset | $ | 24,061 | $ | 38,193 | |||||||||||||||
On August 7, 2013, through its wholly-owned subsidiaries, the Company acquired all of the outstanding shares of Cardpoint, with operations in the U.K. and Germany. At the time of the acquisition, ten legal entities were active under Cardpoint (collectively, the “Cardpoint group”). Various entities in the Cardpoint group have accumulated net operating loss carryforwards (“NOL”) and allowable capital allowances that the Company expects to utilize in the future to offset expected future profits in the group. As of the acquisition date, the Cardpoint group had NOLs in the amount of approximately $60.5 million and allowable capital allowances of approximately $72.4 million. The Company determined that it is more likely than not that the Cardpoint group will be able to realize the benefits of its deferred tax assets. | |||||||||||||||||||
Following the Cardpoint acquisition in September 2013, the Company restructured a portion of its other U.K. operations (Bank Machine entities). Through a series of restructuring completed during the third quarter of 2013, the Bank Machine entities are now owned by Cardpoint Limited. Concurrent with the restructuring, the Company implemented a financing structure to fund future growth of its European operations. | |||||||||||||||||||
The deferred tax benefits associated with the Company’s net unrealized losses on derivative instruments have been reflected within the Accumulated other comprehensive loss, net, balance in the accompanying Consolidated Balance Sheets. | |||||||||||||||||||
As of December 31, 2013, the Company had approximately $7.9 million in U.S. federal net operating loss carryforwards that will begin expiring in 2025. | |||||||||||||||||||
As of December 31, 2013, the Company had approximately $67.4 million in net operating loss carryforwards in the U.K. not subject to expiration, $8.5 million in net operating loss carryforwards in Mexico that will begin expiring in 2016, and approximately $3.0 million in net operating loss carryforwards in Germany that are not subject to expiration. The deferred tax benefits associated with such carryforwards in Mexico and some of the Company’s U.K. entities, to the extent they are not offset by deferred tax liabilities, have been fully reserved for through a valuation allowance. The Company determined that it is more likely than not that the Cardpoint group will be able to realize the benefits of its tax assets related to net operating losses. | |||||||||||||||||||
At this time, the Company does not expect that its U.K. and Mexico operations that carry valuation allowances will be in a position in the near future to be able to more likely than not fully utilize their deferred tax assets in their respective tax jurisdictions, including their net operating loss carryforwards. As a result, the deferred tax benefits associated with these companies, to the extent they are not offset by deferred tax liabilities, have been fully reserved through a valuation allowance | |||||||||||||||||||
The Company currently believes that the unremitted earnings of its international subsidiaries will be reinvested in the corresponding country of origin for an indefinite period of time. Accordingly, no deferred taxes have been provided for on the differences between the Company’s book basis and underlying tax basis in those subsidiaries or on the foreign currency translation adjustment amounts related to such operations. | |||||||||||||||||||
The Company files U.S., state, and foreign income tax returns in jurisdictions with varying statutes of limitations. With few exceptions, the Company is not subject to income tax examination by tax authorities for years before 2010. | |||||||||||||||||||
Concentration_Risk
Concentration Risk | 12 Months Ended |
Dec. 31, 2013 | |
Concentration Risk [Abstract] | ' |
Concentration Risk | ' |
(19) Concentration Risk | |
Significant Supplier. For the years ended December 31, 2013 and 2012, the Company’s U.S., U.K., and Canada operations purchased equipment from one supplier that accounted for 63.5% and 70.3%, respectively, of the Company’s total ATM purchases for those years. | |
Significant Vendors. The Company obtains the cash to fill a substantial portion of its domestic Company-owned, and, in some cases, merchant-owned, ATMs from Bank of America and Wells Fargo. For the quarter ended December 31, 2013, the Company had an average of $2.0 billion in cash in its domestic ATMs, of which 31.7% was provided by Bank of America and 29.7% was provided by Wells Fargo. The Company’s existing vault cash rental agreements expire at various times from March 2014 to December 2016. However, each provider has the right to demand the return of all or any portion of its cash at any time upon the occurrence of certain events beyond the Company’s control, including certain bankruptcy events of the Company or its subsidiaries, or a breach of the terms of the Company’s cash provider agreements. Other key terms of the agreements include the requirement that the cash providers provide written notice of their intent not to renew. Such notice provisions typically require a minimum of 180 to 360 days’ notice prior to the actual termination date. If such notice is not received, then the contracts will typically automatically renew for an additional one-year period. Additionally, the Company’s contract with one of its vault cash providers contains a provision that allows the provider to modify the pricing terms contained within the agreement at any time with 90 days prior written notice. However, in the event both parties do not agree to the pricing modifications, then either party may provide 180 days prior written notice of its intent to terminate. In the U.K., the Company obtains the majority of its vault cash from Santander, for which the existing vault cash rental agreement expires in December 2014. | |
In addition to the above, the Company had concentration risks in significant vendors for the provision of on-site maintenance services and armored courier services in the U.S. for the years ended December 31, 2013 and 2012. | |
Significant Customers. For the years ended December 31, 2013 and 2012, the Company derived 40.8% and 45.2%, respectively, of its unaudited pro forma revenues from ATMs placed at the locations of its five largest merchants. The Company’s top five merchants (based on its total revenues) were 7-Eleven, Inc. (“7-Eleven”), CVS Caremark Corporation (“CVS”), Walgreen Co. (“Walgreens”), Speedway LLC (“Speedway”), and Valero Energy Corporation (“Valero”) for the year ended December 31, 2013 and were 7-Eleven, CVS, Walgreens, Speedway, and The Pantry, Inc. for the year ended December 31, 2012. Unaudited pro forma revenues are the Company’s actual total revenues for 2013 and the pro forma effect of the Cardpoint acquisition for the entire year of 2013. 7-Eleven, which represents the single largest merchant customer in the Company’s portfolio, comprised 24.0% and 26.9% of the Company’s unaudited pro forma revenues for the years ended December 31, 2013 and 2012, respectively. Accordingly, a significant percentage of the Company’s future revenues and operating income will be dependent upon the successful continuation of its relationship with these merchants. | |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||||
Segment Information | ' | ||||||||||||||||||
(20) Segment Information | |||||||||||||||||||
As of December 31, 2013, the Company's operations consisted of its U.S., Europe, and Other International segments. The Company's operations in Puerto Rico and the U.S. Virgin Islands are included in its U.S. segment. The Other International segment currently is comprised of the Company’s operations in Mexico and Canada. During 2013, the U.K. segment was expanded and renamed the Europe segment to include Germany, as a result of the Cardpoint acquisition. While each of these reporting segments provides similar kiosk-based and/or ATM-related services, each segment is currently managed separately as they require different marketing and business strategies. | |||||||||||||||||||
Management uses Adjusted EBITDA, along with other U.S. GAAP-based measures, to assess the operating results and effectiveness of its segments. Management believes Adjusted EBITDA is a useful measure because it allows management to more effectively evaluate operating performance and compare its results of operations from period to period without regard to financing method or capital structure. The Company excludes depreciation, accretion, and amortization expense as these amounts can vary substantially depending upon book values of assets, capital structures and the method by which the assets were acquired. Additionally, Adjusted EBITDA does not reflect acquisition-related costs and the Company's obligations for the payment of income taxes, loss on disposal of assets, interest expense, certain other non-operating and nonrecurring items or other obligations such as capital expenditures. | |||||||||||||||||||
Adjusted EBITDA, as defined by the Company, may not be comparable to similarly titled measures employed by other companies and is not a measure of performance calculated in accordance with U.S. GAAP. In evaluating the Company's performance as measured by Adjusted EBITDA, management recognizes and considers the limitations of this measurement. Accordingly, Adjusted EBITDA is only one of the measurements that management utilizes. Therefore, Adjusted EBITDA should not be considered in isolation or as a substitute for operating income, net income, cash flows from operating, investing, and financing activities or other income or cash flow statement data prepared in accordance with U.S. GAAP. | |||||||||||||||||||
Below is a reconciliation of Adjusted EBITDA to net income attributable to controlling interests: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
Adjusted EBITDA | $ | 218,842 | $ | 189,533 | $ | 156,307 | |||||||||||||
Less: | |||||||||||||||||||
Loss on disposal of assets | 2,790 | 1,787 | 981 | ||||||||||||||||
Other income | -3,150 | -1,830 | -849 | ||||||||||||||||
Noncontrolling interests | -2,399 | -1,668 | -1,897 | ||||||||||||||||
Stock-based compensation expense | 12,290 | 11,072 | 9,283 | ||||||||||||||||
Acquisition-related expenses | 15,400 | 3,332 | 4,747 | ||||||||||||||||
Other adjustments to cost of ATM operating revenues (1) | 8,670 | — | — | ||||||||||||||||
Other adjustments to selling, general, and administrative expenses (2) | 505 | 972 | — | ||||||||||||||||
EBITDA | $ | 184,736 | $ | 175,868 | $ | 144,042 | |||||||||||||
Less: | |||||||||||||||||||
Interest expense, net, including amortization of deferred financing costs and note discount | 23,086 | 22,057 | 21,109 | ||||||||||||||||
Income tax expense (benefit) | 42,018 | 27,009 | -13,176 | ||||||||||||||||
Depreciation and accretion expense | 68,480 | 61,499 | 47,962 | ||||||||||||||||
Amortization expense | 27,336 | 21,712 | 17,914 | ||||||||||||||||
Net income attributable to controlling interests and available to common stockholders | $ | 23,816 | $ | 43,591 | $ | 70,233 | |||||||||||||
____________ | |||||||||||||||||||
(1) Adjustment to cost of ATM operating revenues for the year ended December 31, 2013 is related to the charge for retroactive property taxes on certain ATM locations in the U.K. | |||||||||||||||||||
(2) Adjustment to selling, general, and administrative expense for the years ended December 31, 2013 and 2012 represent severance related costs associated with management of the Company’s U.K. operations. | |||||||||||||||||||
The following tables reflect certain financial information for each of the Company's reporting segments for the year ended December 31, 2013, 2012, and 2011: | |||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||
U.S. | Europe | Other International | Eliminations | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenue from external customers | $ | 657,390 | $ | 178,448 | $ | 40,648 | $ | — | $ | 876,486 | |||||||||
Intersegment revenues | 8,319 | 407 | 56 | -8,782 | — | ||||||||||||||
Cost of revenues | 426,635 | 140,812 | 36,122 | -8,282 | 595,287 | ||||||||||||||
Selling, general, and administrative expenses | 67,890 | 13,575 | 3,127 | — | 84,592 | ||||||||||||||
Acquisition-related expenses | 8,036 | 7,333 | 31 | — | 15,400 | ||||||||||||||
Loss (gain) on disposal of assets | 1,626 | -123 | 1,287 | — | 2,790 | ||||||||||||||
Adjusted EBITDA | 183,498 | 33,580 | 2,261 | -497 | 218,842 | ||||||||||||||
Depreciation and accretion expense | 41,530 | 22,448 | 4,582 | -80 | 68,480 | ||||||||||||||
Amortization expense | 21,101 | 5,541 | 694 | — | 27,336 | ||||||||||||||
Interest expense, net, including amortization of deferred financing costs and note discount | 21,494 | 1,262 | 330 | — | 23,086 | ||||||||||||||
Income tax expense (benefit) | 42,017 | -190 | 191 | — | 42,018 | ||||||||||||||
Capital expenditures (1) | $ | 53,023 | $ | 21,745 | $ | 2,434 | $ | -49 | $ | 77,153 | |||||||||
Year Ended December 31, 2012 | |||||||||||||||||||
U.S. | Europe | Other International | Eliminations | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenue from external customers | $ | 626,241 | $ | 117,814 | $ | 36,394 | $ | — | $ | 780,449 | |||||||||
Intersegment revenues | 10,087 | — | 89 | -10,176 | — | ||||||||||||||
Cost of revenues | 423,813 | 93,030 | 28,909 | -9,665 | 536,087 | ||||||||||||||
Selling, general, and administrative expenses | 54,635 | 7,491 | 2,970 | 429 | 65,525 | ||||||||||||||
Acquisition-related expenses | 3,207 | 120 | 5 | — | 3,332 | ||||||||||||||
Loss on disposal of assets | 1,716 | 61 | 10 | — | 1,787 | ||||||||||||||
Adjusted EBITDA | 168,915 | 18,256 | 3,303 | -941 | 189,533 | ||||||||||||||
Depreciation and accretion expense | 37,831 | 19,894 | 3,768 | 6 | 61,499 | ||||||||||||||
Amortization expense | 20,088 | 1,437 | 187 | — | 21,712 | ||||||||||||||
Interest expense, net, including amortization of deferred financing costs | 21,005 | 647 | 405 | — | 22,057 | ||||||||||||||
Income tax expense (benefit) | 27,069 | — | -60 | — | 27,009 | ||||||||||||||
Capital expenditures (1) | $ | 62,496 | $ | 21,839 | $ | 8,851 | $ | -383 | $ | 92,803 | |||||||||
Year Ended December 31, 2011 | |||||||||||||||||||
U.S. | Europe | Other International | Eliminations | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenue from external customers | $ | 501,439 | $ | 97,665 | $ | 25,472 | $ | — | $ | 624,576 | |||||||||
Intersegment revenues | 4,277 | — | 111 | -4,388 | — | ||||||||||||||
Cost of revenues | 329,782 | 75,109 | 19,612 | -4,388 | 420,115 | ||||||||||||||
Selling, general, and administrative expenses | 47,342 | 5,950 | 2,290 | — | 55,582 | ||||||||||||||
Acquisition-related expenses | 4,747 | — | — | — | 4,747 | ||||||||||||||
Loss (gain) on disposal of assets | 791 | 215 | -25 | — | 981 | ||||||||||||||
Adjusted EBITDA | 137,840 | 16,554 | 1,913 | — | 156,307 | ||||||||||||||
Depreciation and accretion expense | 28,719 | 16,194 | 3,070 | -21 | 47,962 | ||||||||||||||
Amortization expense | 15,985 | 1,892 | 37 | — | 17,914 | ||||||||||||||
Interest expense, net, including amortization of deferred financing costs | 17,144 | 3,260 | 705 | — | 21,109 | ||||||||||||||
Income tax benefit | -13,176 | — | — | — | -13,176 | ||||||||||||||
Capital expenditures (1) | $ | 46,154 | $ | 20,478 | $ | 254 | $ | — | $ | 66,886 | |||||||||
_________ | |||||||||||||||||||
(1) | Capital expenditure amounts include payments made for exclusive license agreements and site acquisition costs. Additionally, capital expenditure amounts for Mexico (included in the Other International segment) are reflected gross of any noncontrolling interest amounts. | ||||||||||||||||||
Identifiable Assets: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | 31-Dec-11 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
United States | $ | 931,396 | $ | 714,110 | $ | 665,553 | |||||||||||||
Europe | 341,618 | 108,894 | 93,182 | ||||||||||||||||
Other International | 26,452 | 30,066 | 16,626 | ||||||||||||||||
Eliminations | -243,263 | -84,178 | -62,560 | ||||||||||||||||
Total | $ | 1,056,203 | $ | 768,892 | $ | 712,801 | |||||||||||||
Supplemental_Guarantor_Financi
Supplemental Guarantor Financial Information | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Supplemental Guarantor Financial Information [Abstract] | ' | |||||||||||||||
Supplemental Guarantor Financial Information | ' | |||||||||||||||
(21) Supplemental Guarantor Financial Information | ||||||||||||||||
The Company's 2018 Notes are fully and unconditionally guaranteed, subject to certain customary release provisions, on a joint and several basis by all of the Company's 100% owned domestic subsidiaries. The following information sets forth the condensed consolidating statements of operations and cash flows for the years ended December 31, 2013, 2012, and 2011 and the condensed consolidating balance sheets as of December 31, 2013 and 2012 of (1) Cardtronics, Inc., the parent company and issuer of the 2018 Notes ("Parent"); (2) all of the Company's 100% owned domestic subsidiaries on a combined basis (collectively, the "Guarantors"); and (3) the Company's international subsidiaries on a combined basis (collectively, the "Non-Guarantors"): | ||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Revenues | $ | — | $ | 665,709 | $ | 219,559 | $ | -8,782 | $ | 876,486 | ||||||
Operating costs and expenses | 12,583 | 554,235 | 235,429 | -8,362 | 793,885 | |||||||||||
Operating (loss) income | -12,583 | 111,474 | -15,870 | -420 | 82,601 | |||||||||||
Interest expense, net, including amortization of deferred financing costs and note discount | 10,357 | 11,137 | 1,592 | — | 23,086 | |||||||||||
Equity in (earnings) losses of subsidiaries | -87,874 | 6,499 | — | 81,375 | — | |||||||||||
Other expense (income), net | 5,453 | -3,519 | -5,084 | — | -3,150 | |||||||||||
Income (loss) before income taxes | 59,481 | 97,357 | -12,378 | -81,795 | 62,665 | |||||||||||
Income tax expense | 38,414 | 3,603 | 1 | — | 42,018 | |||||||||||
Net income (loss) | 21,067 | 93,754 | -12,379 | -81,795 | 20,647 | |||||||||||
Net loss attributable to noncontrolling interests | — | — | — | -3,169 | -3,169 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 21,067 | 93,754 | -12,379 | -78,626 | 23,816 | |||||||||||
Other comprehensive (loss) income attributable to controlling interests | -11,151 | 39,646 | 3,636 | -35 | 32,096 | |||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 9,916 | $ | 133,400 | $ | -8,743 | $ | -78,661 | $ | 55,912 | ||||||
Year Ended December 31, 2012 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Revenues | $ | — | $ | 636,328 | $ | 154,297 | $ | -10,176 | $ | 780,449 | ||||||
Operating costs and expenses | 11,366 | 529,924 | 157,882 | -9,230 | 689,942 | |||||||||||
Operating (loss) income | -11,366 | 106,404 | -3,585 | -946 | 90,507 | |||||||||||
Interest (income) expense, net, including amortization of deferred financing costs | -541 | 21,546 | 1,052 | — | 22,057 | |||||||||||
Equity in (earnings) losses of subsidiaries | -78,992 | 7,890 | — | 71,102 | — | |||||||||||
Other expense (income), net | 8 | -4,529 | 3,257 | -557 | -1,821 | |||||||||||
Income (loss) before income taxes | 68,159 | 81,497 | -7,894 | -71,491 | 70,271 | |||||||||||
Income tax expense (benefit) | 24,508 | 2,561 | -60 | — | 27,009 | |||||||||||
Net income (loss) | 43,651 | 78,936 | -7,834 | -71,491 | 43,262 | |||||||||||
Net loss attributable to noncontrolling interests | — | — | — | -329 | -329 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 43,651 | 78,936 | -7,834 | -71,162 | 43,591 | |||||||||||
Other comprehensive income (loss) attributable to controlling interests | 14,536 | -38,689 | 2,970 | -109 | -21,292 | |||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 58,187 | $ | 40,247 | $ | -4,864 | $ | -71,271 | $ | 22,299 | ||||||
Condensed Consolidating Statements of Comprehensive Income — continued | ||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Revenues | $ | — | $ | 505,716 | $ | 123,248 | $ | -4,388 | $ | 624,576 | ||||||
Operating costs and expenses | 9,604 | 417,762 | 124,344 | -4,409 | 547,301 | |||||||||||
Operating (loss) income | -9,604 | 87,954 | -1,096 | 21 | 77,275 | |||||||||||
Interest (income) expense, net, including amortization of deferred financing costs | -940 | 18,084 | 3,965 | — | 21,109 | |||||||||||
Equity in (earnings) losses of subsidiaries | -47,421 | 7,572 | — | 39,849 | — | |||||||||||
Other (income) expense, net | -19,252 | 15,714 | 2,734 | — | -804 | |||||||||||
Income (loss) before income taxes | 58,009 | 46,584 | -7,795 | -39,828 | 56,970 | |||||||||||
Income tax benefit | -12,116 | -1,060 | — | — | -13,176 | |||||||||||
Net income (loss) | 70,125 | 47,644 | -7,795 | -39,828 | 70,146 | |||||||||||
Net loss attributable to noncontrolling interests | — | — | — | -87 | -87 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 70,125 | 47,644 | -7,795 | -39,741 | 70,233 | |||||||||||
Other comprehensive income (loss) attributable to controlling interests | 10,687 | -29,405 | -131 | 219 | -18,630 | |||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 80,812 | $ | 18,239 | $ | -7,926 | $ | -39,522 | $ | 51,603 | ||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 412 | $ | 73,379 | $ | 13,148 | $ | — | $ | 86,939 | ||||||
Accounts and notes receivable, net | 130,835 | 43,929 | 17,942 | -134,432 | 58,274 | |||||||||||
Current portion of deferred tax asset, net | 15,735 | 1,915 | 3,552 | — | 21,202 | |||||||||||
Other current assets | 917 | 11,580 | 27,948 | -88 | 40,357 | |||||||||||
Total current assets | 147,899 | 130,803 | 62,590 | -134,520 | 206,772 | |||||||||||
Property and equipment, net | — | 166,909 | 104,488 | -431 | 270,966 | |||||||||||
Intangible assets, net | 9,466 | 78,404 | 73,745 | — | 161,615 | |||||||||||
Goodwill | — | 288,439 | 116,052 | — | 404,491 | |||||||||||
Investments in and advances to subsidiaries | 445,318 | 245,985 | — | -691,303 | — | |||||||||||
Intercompany receivable | 150,890 | 43,965 | — | -194,855 | — | |||||||||||
Deferred tax asset, net | — | — | 9,680 | — | 9,680 | |||||||||||
Prepaid expenses, deferred costs, and other noncurrent assets | — | 1,164 | 1,515 | — | 2,679 | |||||||||||
Total assets | $ | 753,573 | $ | 955,669 | $ | 368,070 | $ | -1,021,109 | $ | 1,056,203 | ||||||
Liabilities and Stockholders' Equity: | ||||||||||||||||
Current portion of long-term debt and notes payable | $ | — | $ | — | $ | 1,289 | $ | — | $ | 1,289 | ||||||
Current portion of other long-term liabilities | — | 34,009 | 1,588 | — | 35,597 | |||||||||||
Accounts payable and accrued liabilities | 12,953 | 213,128 | 84,705 | -134,029 | 176,757 | |||||||||||
Current portion of deferred tax liability, net | — | — | 1,152 | — | 1,152 | |||||||||||
Total current liabilities | 12,953 | 247,137 | 88,734 | -134,029 | 214,795 | |||||||||||
Long-term debt | 489,182 | 3 | 40 | — | 489,225 | |||||||||||
Intercompany payable | — | 148,306 | 99,420 | -247,726 | — | |||||||||||
Asset retirement obligations | — | 21,517 | 39,148 | — | 60,665 | |||||||||||
Deferred tax liability, net | 4,324 | 526 | 818 | — | 5,668 | |||||||||||
Other long-term liabilities | — | 38,681 | 55 | — | 38,736 | |||||||||||
Total liabilities | 506,459 | 456,170 | 228,215 | -381,755 | 809,089 | |||||||||||
Stockholders' equity | 247,114 | 499,499 | 139,855 | -639,354 | 247,114 | |||||||||||
Total liabilities and stockholders' equity | $ | 753,573 | $ | 955,669 | $ | 368,070 | $ | -1,021,109 | $ | 1,056,203 | ||||||
Condensed Consolidating Balance Sheets — continued | ||||||||||||||||
As of December 31, 2012 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 5 | $ | 10,674 | $ | 3,182 | $ | — | $ | 13,861 | ||||||
Accounts and notes receivable, net | 56,722 | 39,384 | 9,934 | -60,905 | 45,135 | |||||||||||
Current portion of deferred tax asset, net | 11,683 | 1,094 | 309 | — | 13,086 | |||||||||||
Other current assets | 764 | 28,116 | 14,793 | -6 | 43,667 | |||||||||||
Total current assets | 69,174 | 79,268 | 28,218 | -60,911 | 115,749 | |||||||||||
Property and equipment, net | — | 154,737 | 82,001 | -500 | 236,238 | |||||||||||
Intangible assets, net | 4,684 | 87,670 | 10,219 | — | 102,573 | |||||||||||
Goodwill | — | 268,454 | 17,242 | — | 285,696 | |||||||||||
Investments in and advances to subsidiaries | 209,668 | 100,048 | — | -309,716 | — | |||||||||||
Intercompany receivable | 204,098 | 48,128 | — | -252,226 | — | |||||||||||
Deferred tax asset, net | 23,162 | 2,195 | 1,111 | — | 26,468 | |||||||||||
Prepaid expenses, deferred costs, and other noncurrent assets | — | 1,999 | 169 | — | 2,168 | |||||||||||
Total assets | $ | 510,786 | $ | 742,499 | $ | 138,960 | $ | -623,353 | $ | 768,892 | ||||||
Liabilities and Stockholders' Equity: | ||||||||||||||||
Current portion of long-term debt and notes payable | $ | — | $ | — | $ | 1,467 | $ | — | $ | 1,467 | ||||||
Current portion of other long-term liabilities | — | 25,658 | 1,562 | — | 27,220 | |||||||||||
Accounts payable and accrued liabilities | 9,982 | 122,501 | 30,127 | -60,905 | 101,705 | |||||||||||
Current portion of deferred tax liability, net | — | — | 1,179 | — | 1,179 | |||||||||||
Total current liabilities | 9,982 | 148,159 | 34,335 | -60,905 | 131,571 | |||||||||||
Long-term debt | 352,000 | 15 | 1,337 | — | 353,352 | |||||||||||
Intercompany payable | — | 250,827 | 54,270 | -305,097 | — | |||||||||||
Asset retirement obligations | — | 19,176 | 22,686 | — | 41,862 | |||||||||||
Deferred tax liability, net | — | — | 182 | — | 182 | |||||||||||
Other long-term liabilities | — | 92,966 | 155 | — | 93,121 | |||||||||||
Total liabilities | 361,982 | 511,143 | 112,965 | -366,002 | 620,088 | |||||||||||
Stockholders' equity | 148,804 | 231,356 | 25,995 | -257,351 | 148,804 | |||||||||||
Total liabilities and stockholders' equity | $ | 510,786 | $ | 742,499 | $ | 138,960 | $ | -623,353 | $ | 768,892 | ||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Net cash (used in) provided by operating activities | $ | -39,202 | $ | 193,206 | $ | 29,602 | $ | -49 | $ | 183,557 | ||||||
Additions to property and equipment | — | -50,414 | -21,148 | — | -71,562 | |||||||||||
Payments for exclusive license agreements, site acquisition costs, and other intangible assets | — | -2,609 | -2,982 | — | -5,591 | |||||||||||
Intercompany fixed asset mark-up | — | — | -49 | 49 | — | |||||||||||
Investment in subsidiary | -80,680 | -131,668 | — | 212,348 | — | |||||||||||
Funding of intercompany notes payable | -335,266 | -3,100 | — | 338,366 | — | |||||||||||
Payments received on intercompany notes payable | 298,303 | 35,266 | — | -333,569 | — | |||||||||||
Acquisitions, net of cash acquired | — | -19,997 | -169,590 | — | -189,587 | |||||||||||
Net cash used in investing activities | -117,643 | -172,522 | -193,769 | 217,194 | -266,740 | |||||||||||
Proceeds from borrowings of long-term debt | 311,277 | — | — | — | 311,277 | |||||||||||
Repayments of long-term debt and capital leases | -396,153 | -11 | -1,503 | — | -397,667 | |||||||||||
Proceeds from issuance of convertible notes | 287,500 | — | — | — | 287,500 | |||||||||||
Proceeds from issuance of warrants | 40,509 | — | — | — | 40,509 | |||||||||||
Purchase of convertible note hedges | -72,565 | — | — | — | -72,565 | |||||||||||
Proceeds from intercompany notes payable | — | 168,604 | 169,762 | -338,366 | — | |||||||||||
Repayments of intercompany notes payable | — | -206,775 | -126,794 | 333,569 | — | |||||||||||
Debt issuance and modification costs | -7,540 | — | — | — | -7,540 | |||||||||||
Payment of contingent acquisition consideration | — | -750 | — | — | -750 | |||||||||||
Proceeds from exercises of stock options | 2,626 | — | — | — | 2,626 | |||||||||||
Excess tax benefit from stock-based compensation expense | 24,007 | — | — | — | 24,007 | |||||||||||
Repurchase of capital stock | -32,409 | — | — | — | -32,409 | |||||||||||
Issuance of capital stock | — | 80,953 | 131,395 | -212,348 | — | |||||||||||
Net cash provided by financing activities | 157,252 | 42,021 | 172,860 | -217,145 | 154,988 | |||||||||||
Effect of exchange rate changes on cash | — | — | 1,273 | — | 1,273 | |||||||||||
Net increase in cash and cash equivalents | 407 | 62,705 | 9,966 | — | 73,078 | |||||||||||
Cash and cash equivalents as of beginning of period | 5 | 10,674 | 3,182 | — | 13,861 | |||||||||||
Cash and cash equivalents as of end of period | $ | 412 | $ | 73,379 | $ | 13,148 | $ | — | $ | 86,939 | ||||||
Condensed Consolidating Statements of Cash Flows — continued | ||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Net cash (used in) provided by operating activities | $ | -2,375 | $ | 116,424 | $ | 22,722 | $ | -383 | $ | 136,388 | ||||||
Additions to property and equipment | — | -60,932 | -28,647 | — | -89,579 | |||||||||||
Payments for exclusive license agreements, site acquisition costs, and other intangible assets | — | -1,564 | -1,660 | — | -3,224 | |||||||||||
Intercompany fixed asset mark-up | — | — | -383 | 383 | — | |||||||||||
Funding of intercompany notes payable | -209,875 | -11,797 | — | 221,672 | — | |||||||||||
Payments received on intercompany notes payable | 223,680 | — | — | -223,680 | — | |||||||||||
Acquisitions, net of cash acquired | — | -17,661 | -3,300 | — | -20,961 | |||||||||||
Net cash provided by (used in) investing activities | 13,805 | -91,954 | -33,990 | -1,625 | -113,764 | |||||||||||
Proceeds from borrowings of long-term debt | 245,100 | — | — | — | 245,100 | |||||||||||
Repayments of long-term debt and capital leases | -259,100 | -11 | -2,485 | — | -261,596 | |||||||||||
Proceeds from intercompany notes payable | — | 205,174 | 16,498 | -221,672 | — | |||||||||||
Repayments of intercompany notes payable | — | -223,680 | — | 223,680 | — | |||||||||||
Repayments of borrowings under bank overdraft facility, net | — | — | -162 | — | -162 | |||||||||||
Proceeds from exercises of stock options | 7,344 | — | — | — | 7,344 | |||||||||||
Repurchase of capital stock | -4,770 | — | — | — | -4,770 | |||||||||||
Net cash (used in) provided by financing activities | -11,426 | -18,517 | 13,851 | 2,008 | -14,084 | |||||||||||
Effect of exchange rate changes on cash | — | — | -255 | — | -255 | |||||||||||
Net increase in cash and cash equivalents | 4 | 5,953 | 2,328 | — | 8,285 | |||||||||||
Cash and cash equivalents as of beginning of period | 1 | 4,721 | 854 | — | 5,576 | |||||||||||
Cash and cash equivalents as of end of period | $ | 5 | $ | 10,674 | $ | 3,182 | $ | — | $ | 13,861 | ||||||
Condensed Consolidating Statements of Cash Flows — continued | ||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Net cash provided by operating activities | $ | 2,496 | $ | 100,460 | $ | 10,369 | $ | — | $ | 113,325 | ||||||
Additions to property and equipment | — | -45,640 | -18,778 | — | -64,418 | |||||||||||
Payments for exclusive license agreements, site acquisition costs, and other intangible assets | — | -514 | -1,954 | — | -2,468 | |||||||||||
Investment in subsidiary | — | -100,048 | — | 100,048 | — | |||||||||||
Funding of intercompany notes payable | -316,231 | — | — | 316,231 | — | |||||||||||
Payments received on intercompany notes payable | 189,040 | 93,663 | — | -282,703 | — | |||||||||||
Acquisitions, net of cash acquired | -2,800 | -164,811 | 43 | — | -167,568 | |||||||||||
Net cash used in investing activities | -129,991 | -217,350 | -20,689 | 133,576 | -234,454 | |||||||||||
Proceeds from borrowings of long-term debt | 381,738 | — | — | — | 381,738 | |||||||||||
Repayments of long-term debt and capital leases | -261,938 | -3 | -3,050 | — | -264,991 | |||||||||||
Proceeds from intercompany notes payable | — | 308,294 | 7,937 | -316,231 | — | |||||||||||
Repayments of intercompany notes payable | — | -188,899 | -93,804 | 282,703 | — | |||||||||||
Repayments of borrowings under bank overdraft facility, net | — | — | -830 | — | -830 | |||||||||||
Proceeds from exercises of stock options | 11,420 | — | — | — | 11,420 | |||||||||||
Repurchase of capital stock | -3,150 | — | — | — | -3,150 | |||||||||||
Issuance of capital stock | — | — | 100,048 | -100,048 | — | |||||||||||
Debt issuance and modification costs | -655 | — | — | — | -655 | |||||||||||
Net cash provided by financing activities | 127,415 | 119,392 | 10,301 | -133,576 | 123,532 | |||||||||||
Effect of exchange rate changes on cash | — | — | -16 | — | -16 | |||||||||||
Net (decrease) increase in cash and cash equivalents | -80 | 2,502 | -35 | — | 2,387 | |||||||||||
Cash and cash equivalents as of beginning of period | 81 | 2,219 | 889 | — | 3,189 | |||||||||||
Cash and cash equivalents as of end of period | $ | 1 | $ | 4,721 | $ | 854 | $ | — | $ | 5,576 | ||||||
Supplemental_Selected_Quarterl
Supplemental Selected Quarterly Financial Information (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Supplemental Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||
Supplemental Selected Quarterly Financial Information | ' | |||||||||||||||
(22) Supplemental Selected Quarterly Financial Information (Unaudited) | ||||||||||||||||
Financial information by quarter is summarized below for the years ended December 31, 2013 and 2012. | ||||||||||||||||
Quarter Ended | ||||||||||||||||
31-Mar | 30-Jun | 30-Sep | 31-Dec | Total | ||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||
2013 | ||||||||||||||||
Total Revenues | $ | 197,738 | $ | 207,984 | $ | 228,819 | $ | 241,945 | $ | 876,486 | ||||||
Gross profit (1) | 64,049 | 70,274 | 68,550 | 78,326 | 281,199 | |||||||||||
Net income (loss) | 9,148 | 14,765 | -8,982 | 5,716 | 20,647 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 9,430 | 15,327 | -8,408 | 7,467 | 23,816 | |||||||||||
Basic net income (loss) per common share | $ | 0.21 | $ | 0.34 | $ | -0.19 | $ | 0.16 | $ | 0.52 | ||||||
Diluted net income (loss) per common share | $ | 0.21 | $ | 0.33 | $ | -0.19 | $ | 0.16 | $ | 0.52 | ||||||
2012 | ||||||||||||||||
Total revenues | $ | 191,040 | $ | 192,020 | $ | 199,029 | $ | 198,360 | $ | 780,449 | ||||||
Gross profit (2) | 58,632 | 58,920 | 62,300 | 64,510 | 244,362 | |||||||||||
Net income | 10,043 | 9,579 | 12,706 | 10,934 | 43,262 | |||||||||||
Net income attributable to controlling interests and available to common stockholders | 9,829 | 9,664 | 12,897 | 11,201 | 43,591 | |||||||||||
Basic net income per common share | $ | 0.22 | $ | 0.22 | $ | 0.29 | $ | 0.25 | $ | 0.97 | ||||||
Diluted net income per common share | $ | 0.22 | $ | 0.21 | $ | 0.28 | $ | 0.25 | $ | 0.96 | ||||||
____________ | ||||||||||||||||
-1 | Excludes $20.0 million, $19.9 million, $22.8 million and $24.5 million of depreciation, accretion, and amortization for the quarters ended March 31, June 30, September 30, and December 31, respectively. | |||||||||||||||
-2 | Excludes $17.4 million, $18.2 million, $19.1 million and $20.0 million of depreciation, accretion, and amortization for the quarters ended March 31, June 30, September 30, and December 31, respectively. | |||||||||||||||
Recovered_Sheet1
Basis of Presentation and Summary of Significant Accounting Policies (Policy) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Basis Of Presentation and Summary of Significant Accounting Policies | ' | |||||||||
Basis Of Presentation and Consolidation, Policy | ' | |||||||||
(b) Basis of Presentation and Consolidation | ||||||||||
The consolidated financial statements include the accounts of the Company. All material intercompany accounts and transactions have been eliminated in consolidation. Because the Company owns a majority (51.0%) interest in, and realizes a majority of the earnings and/or losses of, Cardtronics Mexico, this entity is reflected as a consolidated subsidiary in the accompanying consolidated financial statements, with the remaining ownership interests not held by the Company being reflected as noncontrolling interests. | ||||||||||
In management’s opinion, all adjustments necessary for a fair presentation of the Company’s current and prior period results have been made. Additionally, the financial statements for prior periods include reclassifications that were made to conform to the current period presentation. Those reclassifications did not impact the Company’s total reported net income or stockholders’ equity. | ||||||||||
Cost Of ATM Operating Revenues And Gross Profit Presenation | ' | |||||||||
The Company presents Cost of ATM operating revenues and Gross profit within its Consolidated Statements of Operations exclusive of depreciation, accretion, and amortization expense related to ATMs and ATM-related assets. The following table sets forth the amounts excluded from Cost of ATM operating revenues and Gross profit during the years ended December 31, 2013, 2012, and 2011: | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Depreciation and accretion expenses related to ATMs and ATM-related assets | $ | 59,841 | $ | 53,028 | $ | 41,364 | ||||
Amortization expense | 27,336 | 21,712 | 17,914 | |||||||
Total depreciation, accretion, and amortization expenses excluded from Cost of ATM operating revenues and Gross profit | $ | 87,177 | $ | 74,740 | $ | 59,278 | ||||
Use of Estimates in the Preparation of Financial Statements, Policy | ' | |||||||||
(c) Use of Estimates in the Preparation of Financial Statements | ||||||||||
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates include the carrying amount of intangibles, goodwill, asset retirement obligations, and valuation allowances for receivables, inventories, contingencies, and deferred income tax assets. Actual results can, and often do, differ from those assumed in the Company’s estimates. | ||||||||||
Cash and Cash Equivalents, Policy | ' | |||||||||
(d) Cash and Cash Equivalents | ||||||||||
For purposes of reporting financial condition and cash flows, cash and cash equivalents include cash in bank and short-term deposit sweep accounts. Additionally, the Company maintains cash on deposit with banks that is pledged for a particular use or restricted to support a potential liability. These balances are classified as restricted cash in current or noncurrent assets on the Company’s Consolidated Balance Sheets based on when the Company expects this cash to be used. There was $14.9 million and $8.3 million of restricted cash in current assets as of December 31, 2013 and 2012, respectively. Current restricted cash consisted of amounts collected on behalf of, but not yet remitted to, certain of the Company’s merchant customers or third-party service providers. | ||||||||||
Cash Management Program, Policy | ' | |||||||||
(e) Cash Management Program | ||||||||||
The Company relies on agreements with various banks, such as Bank of America, N.A. (“Bank of America”) and Wells Fargo, N.A. (“Wells Fargo”), to provide the cash that it uses in its devices in which the merchants do not provide their own cash. The Company pays a fee for its usage of this vault cash based on the total amount of cash outstanding at any given time, as well as fees related to the bundling and preparation of such cash prior to it being loaded in the devices. At all times, beneficial ownership of the cash is retained by the cash providers, and the Company has no access or right to the cash except for those ATMs that are serviced by the Company’s wholly-owned armored courier operation in the U.K. While the armored courier operation has physical access to the cash loaded in those machines, beneficial ownership of that cash remains with the cash provider at all times. The Company’s vault cash agreements expire at various times between March 2014 and December 2016. (See Note 19, Concentration Risk for additional information on the concentration risk associated with the Company’s arrangements with Bank of America and Wells Fargo.) Based on the foregoing, the ATM vault cash, and the related obligations, are not reflected in the accompanying consolidated financial statements. The average amount of cash in the Company’s devices for the quarters ended December 31, 2013 and 2012 were approximately $2.7 billion and $2.2 billion, respectively. | ||||||||||
Accounts Receivable, including Allowance for Doubtful Accounts, Policy | ' | |||||||||
(f) Accounts Receivable, including Allowance for Doubtful Accounts | ||||||||||
Accounts receivable are comprised of amounts due from the Company’s clearing and settlement banks for transaction revenues earned on transactions processed during the month ending on the balance sheet date, as well as receivables from bank branding and network branding customers, and for equipment sales. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of the amount of probable credit losses on the Company’s existing accounts receivable. The Company reviews its allowance for doubtful accounts monthly and determines the allowance based on an analysis of its past due accounts. All balances over 90 days past due are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. | ||||||||||
Inventory, Policy | ' | |||||||||
(g) Inventory | ||||||||||
Inventory consists principally of used ATMs, ATM spare parts, and ATM supplies and is stated at the lower of cost or market. Cost is determined using the average cost method. The following table is a breakdown of the Company’s primary inventory components as of December 31, 2013 and 2012: | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
ATMs | $ | 2,022 | $ | 2,734 | ||||||
ATM parts and supplies | 4,013 | 2,844 | ||||||||
Total | 6,035 | 5,578 | ||||||||
Less: Inventory reserves | -733 | -1,189 | ||||||||
Inventory, net | $ | 5,302 | $ | 4,389 | ||||||
Property and Equipment, Net, Policy | ' | |||||||||
(h) Property and Equipment, Net | ||||||||||
Property and equipment are stated at cost, and depreciation is calculated using the straight-line method over estimated useful lives ranging from three to ten years. Leasehold improvements and property acquired under capital leases are amortized over the useful life of the asset or the lease term, whichever is shorter. Also included in property and equipment are new ATMs and/or financial services kiosks and the associated equipment the Company has acquired for future installation. These devices are held as “deployments in process” and are not depreciated until actually installed. Significant refurbishment costs that extend the useful life of an asset, or enhance its functionality are capitalized and depreciated over the estimated remaining life of the improved asset. Property and equipment are reviewed for impairment at least annually and additionally whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. | ||||||||||
Maintenance on the Company’s devices is typically performed by third parties and is generally incurred as a fixed fee per month per device, except for in the U.K. where maintenance is primarily performed by in-house technicians. In both cases, amounts incurred for maintenance are expensed as incurred. | ||||||||||
Depreciation expense for property and equipment for the years ended December 31, 2013, 2012, and 2011 was $65.7 million, $58.9 million, and $45.7 million, respectively. As of December 31, 2013, the Company did not have any material capital leases outstanding. See Note 1(l), Asset Retirement Obligations, for additional information on asset retirement obligations associated with the Company’s devices. | ||||||||||
Intangible Assets Other Than Goodwill, Policy | ' | |||||||||
(i) Intangible Assets Other Than Goodwill | ||||||||||
The Company’s intangible assets include merchant contracts/relationships and branding agreements acquired in connection with acquisitions of ATM and kiosk-related assets (i.e., the right to receive future cash flows related to transactions occurring at these merchant locations), exclusive license agreements and site acquisition costs (i.e., the right to be the exclusive ATM or kiosk service provider, at specific locations, for the time period under contract with a merchant customer), technology, non-compete agreements, deferred financing costs relating to the Company’s credit agreements (see Note 10, Long-Term Debt), and trade names acquired. | ||||||||||
The estimated fair value of the merchant contracts/relationships within each acquired portfolio is determined based on the estimated net cash flows and useful lives of the underlying contracts/relationships, including expected renewals. The merchant contracts/relationships comprising each acquired portfolio are typically homogenous in nature with respect to the underlying contractual terms and conditions. Accordingly, the Company generally pools such acquired merchant contracts/relationships into a single intangible asset, by acquired portfolio, for purposes of computing the related amortization expense. The Company amortizes such intangible assets on a straight-line basis over the estimated useful lives of the portfolios to which the assets relate. Because the net cash flows associated with the Company’s acquired merchant contracts/relationships have historically increased subsequent to the acquisition date, the use of a straight-line method of amortization effectively results in an accelerated amortization schedule. The estimated useful life of each portfolio is determined based on the weighted-average lives of the expected cash flows associated with the underlying merchant contracts/relationships comprising the portfolio, and takes into consideration expected renewal rates and the terms and significance of the underlying contracts/relationships themselves. Costs incurred by the Company to renew or extend the term of an existing contract are expensed as incurred, except for any direct payments made to the merchants, which are set up as new intangible assets (exclusive license agreements). Certain acquired merchant contracts/relationships may have unique attributes, such as significant contractual terms or value, and in such cases, the Company will separately account for these contracts in order to better assess the value and estimated useful lives of the underlying merchant relationships. | ||||||||||
The Company tests its acquired merchant contract/relationship intangible assets for impairment, along with the related devices, on an individual contract/relationship basis for the Company’s significant acquired contracts/relationships, and on a pooled or portfolio basis (by acquisition) for all other acquired contracts/relationships. If, subsequent to the acquisition date, circumstances indicate that a shorter estimated useful life is warranted for an acquired portfolio or an individual customer relationship as a result of changes in the expected future cash flows associated with the individual contracts/relationships comprising that portfolio or relationship, then that portfolio’s remaining estimated useful life and related amortization expense are adjusted accordingly on a prospective basis. | ||||||||||
Whenever events or changes in circumstances indicate that a merchant contract/relationship intangible asset may be impaired, the Company evaluates the recoverability of the intangible asset, and the related devices, by measuring the related carrying amounts against the estimated undiscounted future cash flows associated with the related contract or portfolio of contracts. Should the sum of the expected future net cash flows be less than the carrying values of the tangible and intangible assets being evaluated, an impairment loss would be recognized. The impairment loss would be calculated as the amount by which the carrying values of the tangible and intangible assets exceeded the calculated fair value. | ||||||||||
No impairment of indefinite-live intangible assets was identified during the years ended December 31, 2013 and 2012. Additional information regarding the Company’s intangible assets is included in Note 7, Intangible Assets. | ||||||||||
Goodwill, Policy | ' | |||||||||
(j) Goodwill | ||||||||||
Goodwill resulting from a business combination is not amortized but is tested for impairment at least annually and more frequently if conditions warrant. Under U.S. GAAP, goodwill should be tested for impairment at the reporting unit level, which in the Company’s case involves six separate reporting units: (i) the Company’s domestic reporting segment; (ii) the acquired ATM operations in the U.K. from Bank Machine and Cardpoint; (iii) the acquired CCS Mexico (subsequently renamed to Cardtronics Mexico) operations; (iv) the acquired Canadian operations (subsequently renamed Cardtronics Canada); (v) the acquired German operations from Cardpoint; and (vi) the acquired i-design group plc (“i-design”) operations. For each reporting unit, the carrying amount of the net assets associated with the applicable reporting unit is compared to the estimated fair value of such reporting unit as of the testing date (i.e., December 31, 2013). When estimating fair values of a reporting unit for its goodwill impairment test, the Company utilizes a combination of the income approach and market approach, which incorporates both management’s views and those of the market. The income approach provides an estimated fair value based on each reporting unit’s anticipated cash flows, which have been discounted using a weighted-average cost of capital rate for each reporting unit. The market approach provides an estimated fair value based on the Company’s market capitalization that is computed using the market price of its common stock and the number of shares outstanding as of the impairment test date. The sum of the estimated fair values for each reporting unit, as computed using the income approach, is then compared to the fair value of the Company as a whole, as determined based on the market approach. If such amounts are consistent, the estimated fair values for each reporting unit, as derived from the income approach, are utilized. | ||||||||||
All of the assumptions utilized in estimating the fair value of the Company’s reporting units and performing the goodwill impairment test are inherently uncertain and require significant judgment on the part of management. The primary assumptions used in the income approach are estimated cash flows, the weighted average cost of capital for each reporting unit, and valuation multiples assigned to the earnings before interest expense, income taxes, depreciation and accretion expense, and amortization expense (“EBITDA”) of each reporting unit in order to assess the terminal value for each reporting unit. Estimated cash flows are primarily based on the Company’s projected revenues, operating costs, and capital expenditures and are discounted based on comparable industry average rates for the weighted-average cost of capital for each reporting unit. The Company utilized discount rates based on weighted-average cost of capital amounts ranging from 10% to 12% when estimating the fair values of its reporting units as of December 31, 2013 and 2012. With respect to the EBITDA multiples utilized in assessing the terminal value of each of its reporting units, the Company utilized its current multiple, but also evaluated it to current and historical valuation multiples assigned to a number of its industry peer group companies for reasonableness. | ||||||||||
Based on the results of the impairment analysis, the Company determined that no impairment of goodwill existed as of December 31, 2013 and 2012, and the fair values of its reporting units were substantially in excess of the carrying values of such reporting units. | ||||||||||
Income Taxes, Policy | ' | |||||||||
k) Income Taxes | ||||||||||
Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes, which are based on temporary differences between the amount of taxable income and income before provision for income taxes and between the tax basis of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the consolidated financial statements at current income tax rates. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. As the ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible, the Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. In the event the Company does not believe it will be able to utilize the related tax benefits associated with deferred tax assets, valuation allowances will be recorded to reserve for the assets. | ||||||||||
Asset Retirement Obligations, Policy | ' | |||||||||
(l) Asset Retirement Obligations | ||||||||||
The Company estimates the fair value of future retirement costs associated with its ATMs and recognizes this amount as a liability on a pooled basis based on estimated deinstallation dates in the period in which it is incurred, and when it can be reasonably estimated. The Company’s estimates of fair value involve discounted future cash flows. Subsequent to recognizing the initial liability, the Company recognizes an ongoing expense for changes in such liabilities due to the passage of time (i.e., accretion expense), which is recorded in the depreciation and accretion expense line in the accompanying Consolidated Financial Statements. As the liability is not revalued on a recurring basis, it is periodically reevaluated based on current cost estimate and contract information. Upon settlement of the liability, the Company recognizes a gain or loss for any difference between the settlement amount and the liability recorded. Additionally, the Company capitalizes the initial estimated fair value amount as an asset and depreciates the amount over its estimated useful life. Additional information regarding the Company’s asset retirement obligations is included in Note 11, Asset Retirement Obligations. | ||||||||||
Revenue Recognition, Policy | ' | |||||||||
(m) Revenue Recognition | ||||||||||
ATM operating revenues. Substantially all of the Company’s revenues are generated from ATM and kiosk operating and transaction-based fees, which are reflected as “ATM operating revenues” in the accompanying Consolidated Statements of Operations. ATM operating revenues primarily include the following: | ||||||||||
· | Surcharge and interchange revenues, which are recognized daily as the underlying transactions are processed. | |||||||||
· | Bank branding revenues, which are generated by the Company’s bank branding arrangements, under which financial institutions generally pay a fixed monthly fee per device to the Company to place their brand name on selected ATMs and multi-function kiosks within the Company’s portfolio. In return for such fees, the branding institution’s customers can use those branded devices without paying a surcharge fee. The monthly per device branding fees are recognized as revenues on a monthly basis as earned, and are subject to escalation clauses within the agreements. In addition to the monthly branding fees, the Company may also receive a one-time set-up fee per device. This set-up fee is separate from the recurring, monthly branding fees and is meant to compensate the Company for the burden incurred related to the initial set-up of a branded device versus the on-going monthly services provided for the actual branding. In accordance with U.S. GAAP, the Company has deferred these set-up fees (as well as the corresponding costs associated with the initial set-up) and is recognizing such amounts as revenue (and expense) over the terms of the underlying bank branding agreements on a straight-line basis. | |||||||||
· | Surcharge-free network revenues, which are generated by the operations of Allpoint, the Company’s surcharge-free network. The Company allows cardholders of financial institutions that participate in Allpoint to utilize the Company’s network of devices on a surcharge-free basis. In return, the participating financial institutions pay a fixed fee per month per cardholder or a fee per transaction to the Company. These surcharge-free network fees are recognized as revenues on a monthly basis as earned. | |||||||||
· | Managed services revenues, which the Company typically receives a fixed management fee and may be supplemented by certain additional fees based on transaction volume. While the management fee and any additional fees are recognized as revenue on a monthly basis as earned, the surcharge and interchange fees generated by the ATM under the managed services agreement are earned by the Company’s customer, therefore, not recorded as revenue of the Company. | |||||||||
· | Other revenues, which includes maintenance fees; fees from other consumer financial services offerings such as check-cashing, remote deposit capture and bill pay services; and upfront payments. With respect to maintenance services, the Company typically charges a fixed fee per month per device to its subscribing customers and outsources the fulfillment of those maintenance services to a third-party service provider for a corresponding fixed fee per month per device. Accordingly, the Company recognizes such service agreement revenues and the related expenses on a monthly basis as earned. With respect to its automated consumer financial services offerings, the Company typically recognizes the revenues as the services are provided and the revenues earned. In addition to the transaction-based fees, the Company may also receive upfront payments from third-party service providers associated with providing certain of these services, which are deferred and recognized as revenue over the underlying contractual period. | |||||||||
ATM equipment sales. The Company also generates revenues from the sale of ATMs to merchants and certain equipment resellers. Such amounts are reflected as “ATM product sales and other revenues” in the accompanying Consolidated Statements of Operations. Revenues related to the sale of ATMs to merchants are recognized when the equipment is delivered to the customer and the Company has completed all required installation and set-up procedures. With respect to the sale of ATMs to associate value-added resellers (“VARs”), the Company recognizes and invoices revenues related to such sales when the equipment is shipped from the manufacturer to the associate VAR. The Company typically extends 30-day terms and receives payment directly from the associate VAR irrespective of the ultimate sale to a third-party. | ||||||||||
Merchant-owned arrangements. In connection with the Company’s merchant-owned ATM operating/processing arrangements, the Company typically pays all or a sizable portion of the surcharge fees that it earns to the merchant as fees for providing, placing, and maintaining the ATM unit. Pursuant to the guidance in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 605-45-45, Revenue Recognition – Principal Agent Considerations – Other Presentation Matters, the Company has assessed whether to record such payments as a reduction of associated ATM transaction revenues or a cost of revenues. Specifically, if the Company acts as the principal and is the primary obligor in the ATM transactions, provides the processing for the ATM transactions, has significant influence over pricing, and has the risks and rewards of ownership, including a variable earnings component and the risk of loss for collection, the Company recognizes the surcharge and interchange fees on a gross basis and does not reduce its reported revenues for payments made to the various merchants and retail establishments where the ATM units are housed. As a result, for agreements under which the Company acts as the principal, the Company records the total amounts earned from the underlying ATM transactions as ATM operating revenues and records the related merchant commissions as a cost of ATM operating revenues. However, for those agreements in which the Company does not meet the criteria to qualify as the principal agent in the transaction, the Company does not record the related surcharge revenue as the rights associated with this revenue stream inure to the benefit of the merchant. | ||||||||||
Stock-based Compensation, Policy | ' | |||||||||
(n) Stock-Based Compensation | ||||||||||
The Company calculates the fair value of stock-based instruments awarded to employees on the date of grant and recognizes the calculated fair value as compensation cost over the requisite service period. For additional information on the Company’s stock-based compensation, see Note 3, Stock-Based Compensation. | ||||||||||
Derivative Financial Instruments, Policy | ' | |||||||||
(o) Derivative Financial Instruments | ||||||||||
The Company utilizes derivative financial instruments to hedge its exposure to changing interest rates related to the Company’s ATM and kiosk cash management activities. The Company does not enter into derivative transactions for speculative or trading purposes, although circumstances may subsequently change the designation of its derivatives to economic hedges. | ||||||||||
The Company records derivative instruments at fair value on its Consolidated Balance Sheets. These derivatives, which consist of interest rate swaps, are valued using pricing models based on significant other observable inputs (Level 2 inputs under the fair value hierarchy prescribed by U.S. GAAP), while taking into account the nonperformance risk of the counterparty. The majority of the Company’s derivative transactions have been accounted for as cash flow hedges and, accordingly, changes in the fair values of such derivatives have been reflected in the Accumulated other comprehensive loss, net line in the accompanying Consolidated Balance Sheets to the extent that the hedging relationships are determined to be effective, and then recognized in earnings when the hedged transactions occur. For additional information on the Company’s derivative financial instruments, see Note 15, Derivative Financial Instruments. | ||||||||||
Fair Value of Financial Instruments, Policy | ' | |||||||||
(p) Fair Value of Financial Instruments | ||||||||||
The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. U.S. GAAP does not require the disclosure of the fair value of lease financing arrangements and non-financial instruments, including intangible assets such as goodwill and the Company’s merchant contracts/relationships. See Note 16, Fair Value Measurements for the Company’s fair value evaluation of its financial instruments. | ||||||||||
Foreign Currency Translation, Policy | ' | |||||||||
(q) Foreign Currency Translation | ||||||||||
The Company is exposed to foreign currency translation risk with respect to its international operations. The functional currencies for these businesses are their respective local currencies. Accordingly, results of operations of the Company’s international subsidiaries are translated into U.S. dollars using average exchange rates in effect during the periods in which those results are generated. Furthermore, the Company’s foreign operations’ assets and liabilities are translated into U.S. dollars using the exchange rate in effect as of each balance sheet reporting date. The resulting translation adjustments have been included in accumulated other comprehensive loss, net in the accompanying Consolidated Balance Sheets. | ||||||||||
The Company currently believes that the unremitted earnings of all of its international subsidiaries will be reinvested in the corresponding country of origin for an indefinite period of time. Accordingly, no deferred taxes have been provided for the differences between the Company’s book basis and underlying tax basis in those subsidiaries or on the foreign currency translation adjustment amounts. | ||||||||||
Treasury Stock, Policy | ' | |||||||||
(r) Treasury Stock | ||||||||||
Treasury stock is recorded at cost and carried as a reduction to stockholders’ equity until retired or reissued. | ||||||||||
Advertising Costs, Policy | ' | |||||||||
(s) Advertising Costs | ||||||||||
Advertising costs are expensed as incurred and totaled $4.4 million, $3.0 million, and $2.3 million during the years ended December 31, 2013, 2012, and 2011, respectively, and are included in the line item Selling, general, and administrative expenses in the accompanying Consolidated Statements of Operations. | ||||||||||
Working Capital Deficit, Policy | ' | |||||||||
(t) Working Capital Deficit | ||||||||||
The Company’s surcharge and interchange revenues are typically collected in cash on a daily basis or within a short period of time subsequent to the end of each month. However, the Company typically pays its vendors on 30 day terms and is not required to pay certain of its merchants until 20 days after the end of each calendar month. As a result, the Company will typically utilize the excess cash flow generated from such timing differences to fund its capital expenditure needs or to repay amounts outstanding under its revolving line of credit (which, when drawn upon, is reflected as a long-term liability in the accompanying Consolidated Balance Sheets). Accordingly, this utilization will typically cause the Company’s balance sheet to reflect a working capital deficit position. The Company considers such a presentation to be a normal part of its ongoing operations. | ||||||||||
Recovered_Sheet2
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Basis Of Presentation and Summary of Significant Accounting Policies | ' | |||||||||
Schedule Of Depreciation Accretion And Amortization Amounts Excluded From Operating Revenues And Gross Profit | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Depreciation and accretion expenses related to ATMs and ATM-related assets | $ | 59,841 | $ | 53,028 | $ | 41,364 | ||||
Amortization expense | 27,336 | 21,712 | 17,914 | |||||||
Total depreciation, accretion, and amortization expenses excluded from Cost of ATM operating revenues and Gross profit | $ | 87,177 | $ | 74,740 | $ | 59,278 | ||||
Summary Of Primary Inventory Components | ' | |||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
ATMs | $ | 2,022 | $ | 2,734 | ||||||
ATM parts and supplies | 4,013 | 2,844 | ||||||||
Total | 6,035 | 5,578 | ||||||||
Less: Inventory reserves | -733 | -1,189 | ||||||||
Inventory, net | $ | 5,302 | $ | 4,389 | ||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Acquisitions [Abstract] | ' | ||||||||||||
Preliminary purchase price allocation | ' | ||||||||||||
(In thousands) | |||||||||||||
Cash and cash equivalents | $ | 4,782 | |||||||||||
Accounts and notes receivable | 619 | ||||||||||||
Inventory | 863 | ||||||||||||
Restricted cash | 7,522 | ||||||||||||
Prepaid expenses, deferred costs, and other current assets | 6,665 | ||||||||||||
Property and equipment | 28,548 | ||||||||||||
Deferred tax assets | 22,117 | ||||||||||||
Intangible assets | 59,673 | ||||||||||||
Goodwill | 90,913 | ||||||||||||
Total assets acquired | 221,702 | ||||||||||||
Accounts payable | 6,052 | ||||||||||||
Accrued liabilities | 24,393 | ||||||||||||
Deferred revenue | 56 | ||||||||||||
Asset retirement obligations | 16,521 | ||||||||||||
Deferred tax liabilities | 12,852 | ||||||||||||
Total liabilities assumed | 59,874 | ||||||||||||
Net assets acquired | $ | 161,828 | |||||||||||
Schedule of intangible assets acquired | ' | ||||||||||||
Fair Values | Useful Lives | Weighted Average Period Before Next Renewal | |||||||||||
(In thousands) | |||||||||||||
Customer contracts | $ | 50,291 | 7 years | 3.9 years | |||||||||
Trade name | 9,096 | 15 years | N/A | ||||||||||
Non-compete agreements | 286 | 1 year | N/A | ||||||||||
Total | $ | 59,673 | |||||||||||
Schedule of Pro Forma Results of Operations | ' | ||||||||||||
2013 | 2012 | ||||||||||||
As Reported | Pro Forma | As Reported | Pro Forma | ||||||||||
(Unaudited) | (Unaudited) | ||||||||||||
(In thousands, excluding per share amounts) | |||||||||||||
Total revenues | $ | 876,486 | $ | 938,962 | $ | 780,449 | $ | 883,350 | |||||
Net income attributable to controlling interests and available to common stockholders | 23,816 | 24,220 | 43,591 | 42,670 | |||||||||
Earnings per share – basic | $ | 0.52 | $ | 0.53 | $ | 0.97 | $ | 0.95 | |||||
Earnings per share – diluted | $ | 0.52 | $ | 0.53 | $ | 0.96 | $ | 0.94 | |||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||
Stock-Based Compensation, Expense | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Cost of ATM operating revenues | $ | 911 | $ | 930 | $ | 903 | ||||||
Selling, general, and administrative expenses | 11,413 | 10,180 | 8,421 | |||||||||
Total stock-based compensation expense | $ | 12,324 | $ | 11,110 | $ | 9,324 | ||||||
Stock-Based Compensation, Restricted Share Awards | ' | |||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | |||||||||||
RSAs outstanding as of January 1, 2013 | 632,107 | $ | 16.36 | |||||||||
Granted | 97,401 | $ | 26.86 | |||||||||
Vested | -282,138 | $ | 15.18 | |||||||||
Forfeited | -71,872 | $ | 24.30 | |||||||||
RSAs outstanding as of December 31, 2013 | 375,498 | $ | 18.42 | |||||||||
Stock-Based Compensation, Restricted Share Units | ' | |||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | |||||||||||
Non-vested RSUs as of January 1, 2013 | 749,948 | $ | 20.01 | |||||||||
Granted | 268,265 | $ | 31.72 | |||||||||
Vested | -269,824 | $ | 17.22 | |||||||||
Forfeited | -15,154 | $ | 23.27 | |||||||||
Non-vested RSUs as of December 31, 2013 | 733,235 | $ | 25.26 | |||||||||
Stock-Based Compensation, Stock Options | ' | |||||||||||
Number of Shares | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Remaining Contractual Term | |||||||||
Options outstanding as of January 1, 2013 | 552,799 | $ | 9.68 | |||||||||
Exercised | -270,749 | $ | 9.70 | |||||||||
Forfeited | -1,875 | $ | 11.05 | |||||||||
Options outstanding as of December 31, 2013 | 280,175 | $ | 9.66 | $ | 9,485 | 2.76 years | ||||||
Options vested and exercisable as of December 31, 2013 | 274,425 | $ | 9.63 | $ | 9,298 | 2.69 years | ||||||
Stock-Based Compensation, Non-Vested Stock Options | ' | |||||||||||
Number of Shares Under Outstanding Options | Weighted Average Grant Date Fair Value | |||||||||||
Non-vested options as of January 1, 2013 | 34,625 | $ | 4.38 | |||||||||
Vested | -27,000 | $ | 4.05 | |||||||||
Forfeited | -1,875 | $ | 5.62 | |||||||||
Non-vested options as of December 31, 2013 | 5,750 | $ | 5.50 | |||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||
Schedule Of Earnings Per Share, Basic And Diluted | ' | ||||||||||||||||||
2013 | |||||||||||||||||||
Income | Weighted Average Shares Outstanding | Earnings Per Share | |||||||||||||||||
Basic: | |||||||||||||||||||
Net income attributable to controlling interests and available to common stockholders | $ | 23,816 | |||||||||||||||||
Less: Undistributed earnings allocated to unvested restricted shares | -672 | ||||||||||||||||||
Net income available to common stockholders | $ | 23,144 | 44,371,313 | $ | 0.52 | ||||||||||||||
Diluted: | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||
Add: Undistributed earnings allocated to restricted shares | $ | 672 | |||||||||||||||||
Stock options added to the denominator under the treasury stock method | 206,322 | ||||||||||||||||||
Less: Undistributed earnings reallocated to restricted shares | -669 | ||||||||||||||||||
Net income available to common stockholders and assumed conversions | $ | 23,147 | 44,577,635 | $ | 0.52 | ||||||||||||||
2012 | 2011 | ||||||||||||||||||
Income | Weighted Average Shares Outstanding | Earnings Per Share | Income | Weighted Average Shares Outstanding | Earnings Per Share | ||||||||||||||
Basic: | |||||||||||||||||||
Net income attributable to controlling interests and available to common stockholders | $ | 43,591 | $ | 70,233 | |||||||||||||||
Less: Undistributed earnings allocated to unvested restricted shares | -1,497 | -2,626 | |||||||||||||||||
Net income available to common stockholders | $ | 42,094 | 43,469,175 | $ | 0.97 | $ | 67,607 | 42,201,491 | $ | 1.60 | |||||||||
Diluted: | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||
Add: Undistributed earnings allocated to restricted shares | $ | 1,497 | $ | 2,626 | |||||||||||||||
Stock options added to the denominator under the treasury stock method | 406,157 | 685,289 | |||||||||||||||||
Less: Undistributed earnings reallocated to restricted shares | -1,483 | -2,586 | |||||||||||||||||
Net income available to common stockholders and assumed conversions | $ | 42,108 | 43,875,332 | $ | 0.96 | $ | 67,647 | 42,886,780 | $ | 1.58 | |||||||||
Property_And_Equipment_Net_Tab
Property And Equipment, Net (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Property And Equipment, Net [Abstract] | ' | ||||||
Summary Of The Components Of Property And Equipment | ' | ||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
ATM equipment and related costs | $ | 538,364 | $ | 392,589 | |||
Technology assets | 53,271 | 36,326 | |||||
Office furniture, fixtures, and other | 40,564 | 31,500 | |||||
Total | 632,199 | 460,415 | |||||
Less accumulated depreciation | -361,233 | -224,177 | |||||
Net property and equipment | $ | 270,966 | $ | 236,238 | |||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Intangible Assets [Abstract] | ' | |||||||||||||||||||||
Schedule of Goodwill | ' | |||||||||||||||||||||
Goodwill | ||||||||||||||||||||||
U.S. | Europe (1) | Other International (2) | Total | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||
Balance as of January 1, 2012: | ||||||||||||||||||||||
Gross balance | $ | 255,465 | $ | 63,364 | $ | 2,736 | $ | 321,565 | ||||||||||||||
Accumulated impairment loss | — | -50,003 | — | -50,003 | ||||||||||||||||||
$ | 255,465 | $ | 13,361 | $ | 2,736 | $ | 271,562 | |||||||||||||||
Acquisitions | 12,306 | 199 | 327 | 12,832 | ||||||||||||||||||
Purchase price adjustments | 683 | — | 2 | 685 | ||||||||||||||||||
Foreign currency translation adjustments | — | 579 | 38 | 617 | ||||||||||||||||||
Balance as of December 31, 2012: | ||||||||||||||||||||||
Gross balance | $ | 268,454 | $ | 64,142 | $ | 3,103 | $ | 335,699 | ||||||||||||||
Accumulated impairment loss | — | -50,003 | — | -50,003 | ||||||||||||||||||
$ | 268,454 | $ | 14,139 | $ | 3,103 | $ | 285,696 | |||||||||||||||
Acquisitions | 13,316 | 97,929 | — | 111,245 | ||||||||||||||||||
Purchase price adjustments | 29 | — | 141 | 170 | ||||||||||||||||||
Allocation adjustment | 6,640 | -6,860 | 220 | — | ||||||||||||||||||
Foreign currency translation adjustments | — | 7,552 | -172 | 7,380 | ||||||||||||||||||
Balance as of December 31, 2013: | ||||||||||||||||||||||
Gross balance | $ | 288,439 | $ | 162,763 | $ | 3,292 | $ | 454,494 | ||||||||||||||
Accumulated impairment loss | — | -50,003 | — | -50,003 | ||||||||||||||||||
$ | 288,439 | $ | 112,760 | $ | 3,292 | $ | 404,491 | |||||||||||||||
____________ | ||||||||||||||||||||||
-1 | The Europe segment is comprised of the Company’s operations in U.K. and Germany. | |||||||||||||||||||||
-2 | The Other International segment is comprised of the Company’s operations in Mexico and Canada. | |||||||||||||||||||||
Summary Of Net Carrying Amounts Of Intangible Assets With Indefinite Lives | ' | |||||||||||||||||||||
Trade Name: indefinite-lived | ||||||||||||||||||||||
U.S. | Europe | Total | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||
Balance as of January 1, 2012 | $ | 200 | $ | 3,098 | $ | 3,298 | ||||||||||||||||
Foreign currency translation adjustments | — | 133 | 133 | |||||||||||||||||||
Balance as of December 31, 2012 | $ | 200 | $ | 3,231 | $ | 3,431 | ||||||||||||||||
Acquisitions | — | 513 | 513 | |||||||||||||||||||
Reclassification to definite-lived trade name | — | -3,298 | -3,298 | |||||||||||||||||||
Foreign currency translation adjustments | — | 114 | 114 | |||||||||||||||||||
Balance as of December 31, 2013 | $ | 200 | $ | 560 | $ | 760 | ||||||||||||||||
Summary Of Intangible Assets Subject To Amortization | ' | |||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||
Customer and branding contracts/relationships | $ | 276,140 | $ | -149,645 | $ | 126,495 | $ | 212,509 | $ | -125,920 | $ | 86,589 | ||||||||||
Deferred financing costs | 15,038 | -5,466 | 9,572 | 9,169 | -4,373 | 4,796 | ||||||||||||||||
Exclusive license agreements | 23,154 | -14,693 | 8,461 | 18,724 | -12,543 | 6,181 | ||||||||||||||||
Non-compete agreements | 4,075 | -2,437 | 1,638 | 2,822 | -1,246 | 1,576 | ||||||||||||||||
Technology | 2,827 | -775 | 2,052 | — | — | — | ||||||||||||||||
Trade name: definite-lived | 13,164 | -527 | 12,637 | — | — | — | ||||||||||||||||
Total | $ | 334,398 | $ | -173,543 | $ | 160,855 | $ | 243,224 | $ | -144,082 | $ | 99,142 | ||||||||||
Schedule of Acquired Intangible Assets | ' | |||||||||||||||||||||
Amount Acquired in 2013 | Weighted Average Amortization Period | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||
Customer and branding contracts/relationships | $ | 62,800 | 7.0 years | |||||||||||||||||||
Non-compete agreements | 1,284 | 2.5 years | ||||||||||||||||||||
Technology | 2,852 | 3.0 years | ||||||||||||||||||||
Trade name: definite-lived | 9,867 | 14.8 years | ||||||||||||||||||||
Total | $ | 76,803 | ||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets Future Amortization Expense | ' | |||||||||||||||||||||
2014 | $ | 34,695 | ||||||||||||||||||||
2015 | 32,205 | |||||||||||||||||||||
2016 | 26,835 | |||||||||||||||||||||
2017 | 22,519 | |||||||||||||||||||||
2018 | 17,050 | |||||||||||||||||||||
Thereafter | 27,551 | |||||||||||||||||||||
Total | $ | 160,855 | ||||||||||||||||||||
Prepaid_Expenses_And_Other_Ass1
Prepaid Expenses And Other Assets (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Prepaid Expense And Other Assets [Abstract] | ' | ||||||
Prepaid Expenses, Deferred Costs, and Other Assets | ' | ||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Prepaid Expenses, Deferred Costs, and Other Current Assets: | |||||||
Prepaid expenses | $ | 12,412 | $ | 11,349 | |||
Deferred costs and other current assets | 7,747 | 19,631 | |||||
Total | $ | 20,159 | $ | 30,980 | |||
Prepaid Expenses, Deferred Costs, and Other Noncurrent Assets: | |||||||
Prepaid expenses | $ | 1,553 | $ | 224 | |||
Deferred costs | 776 | 1,507 | |||||
Other | 350 | 437 | |||||
Total | $ | 2,679 | $ | 2,168 | |||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Accrued Liabilities [Abstract] | ' | ||||||
Accrued Liabilities | ' | ||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Accrued merchant fees | $ | 32,619 | $ | 23,510 | |||
Accrued taxes | 23,033 | 1,794 | |||||
Accrued merchant settlement amounts | 17,365 | 9,255 | |||||
Accrued compensation | 12,501 | 9,524 | |||||
Accrued interest expense | 6,140 | 5,753 | |||||
Accrued armored fees | 5,271 | 4,628 | |||||
Accrued maintenance fees | 5,186 | 4,865 | |||||
Accrued cash rental and management fees | 4,570 | 4,067 | |||||
Accrued purchases | 2,392 | 2,084 | |||||
Accrued interest rate swap payments | 2,211 | 2,299 | |||||
Accrued ATM telecommunications costs | 1,682 | 1,254 | |||||
Accrued processing costs | 939 | 1,510 | |||||
Other accrued expenses | 23,867 | 9,569 | |||||
Total | $ | 137,776 | $ | 80,112 | |||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Schedule Of Long-Term Debt | ' | |||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
8.25% Senior subordinated notes due September 2018 | $ | 200,000 | $ | 200,000 | ||||||
1.00% Convertible senior notes due December 2020 | 216,635 | — | ||||||||
Revolving credit facility, including swing-line credit facility (weighted-average combined interest rate of 2.5% and 2.2% as of December 31, 2013 and 2012, respectively) | 72,547 | 152,000 | ||||||||
Equipment financing notes | 1,332 | 2,819 | ||||||||
Total | 490,514 | 354,819 | ||||||||
Less: current portion | 1,289 | 1,467 | ||||||||
Total long-term debt, excluding current portion | $ | 489,225 | $ | 353,352 | ||||||
Schedule Of Maturities Of Long-Term Debt | ' | |||||||||
2014 | $ | 1,292 | ||||||||
2015 | 40 | |||||||||
2016 | 72,547 | |||||||||
2017 | — | |||||||||
2018 | 200,000 | |||||||||
Thereafter | 287,500 | |||||||||
Total | $ | 561,379 | ||||||||
Convertible senior notes due December 2020 [Member] | ' | |||||||||
Schedule of Interest Expense Related to Convertible Notes | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Cash interest per contractual coupon rate | $ | 288 | $ | — | $ | — | ||||
Amortization of note discount | 848 | — | — | |||||||
Amortization of deferred financing costs | 48 | — | — | |||||||
Total interest expense related to Convertible Notes | $ | 1,184 | $ | — | $ | — | ||||
Schedule of Convertible Debt | ' | |||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
Principal balance | $ | 287,500 | $ | — | ||||||
Discount, net of accumulated amortization | -70,865 | — | ||||||||
Net carrying amount of Convertible Notes | $ | 216,635 | $ | — | ||||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Asset Retirement Obligations [Abstract] | ' | ||||||
Changes In Asset Retirement Obligation Liability | ' | ||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Asset retirement obligation as of beginning of period | $ | 44,696 | $ | 34,517 | |||
Additional obligations | 6,399 | 10,303 | |||||
Estimated obligations assumed in Cardpoint acquisition | 18,494 | — | |||||
Accretion expense | 2,777 | 2,602 | |||||
Change in estimates | -6,477 | — | |||||
Payments | -2,495 | -3,510 | |||||
Foreign currency translation adjustments | 437 | 784 | |||||
Total asset retirement obligation at end of period | 63,831 | 44,696 | |||||
Less: current portion | 3,166 | 2,834 | |||||
Asset retirement obligation, excluding current portion | $ | 60,665 | $ | 41,862 | |||
Other_Liabilities_Tables
Other Liabilities (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Other Liabilities [Abstract] | ' | ||||||
Schedule Of Other Liabilities | ' | ||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Current Portion of Other Long-Term Liabilities: | |||||||
Interest rate swaps | $ | 31,069 | $ | 23,117 | |||
Deferred revenue | 1,315 | 835 | |||||
Asset retirement obligations | 3,166 | 2,834 | |||||
Other | 47 | 434 | |||||
Total | $ | 35,597 | $ | 27,220 | |||
Other Long-Term Liabilities: | |||||||
Interest rate swaps | $ | 34,509 | $ | 84,973 | |||
Obligations associated with acquired unfavorable contracts | — | 964 | |||||
Deferred revenue | 962 | 1,353 | |||||
Other | 3,265 | 5,831 | |||||
Total | $ | 38,736 | $ | 93,121 | |||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Loss [Abstract] | ' | |||||||||
Schedule Of Accumulated Other Comprehensive Loss, Net | ' | |||||||||
Foreign currency translation adjustments | Unrealized (losses) gains on interest rate swap contracts, net of tax | Total | ||||||||
(In thousands) | ||||||||||
Total accumulated other comprehensive loss, net as of January 1, 2011 | $ | -26,569 | $ | -38,484 | -1 | $ | -65,053 | |||
Other comprehensive loss before reclassification | -566 | -41,960 | -2 | -42,526 | ||||||
Amounts reclassified from accumulated other comprehensive loss, net | — | 23,677 | -2 | 23,677 | ||||||
Total accumulated other comprehensive loss, net as of December 31, 2011 | $ | -27,135 | $ | -56,767 | -1 | $ | -83,902 | |||
Other comprehensive income (loss) before reclassification | 2,501 | -49,485 | -3 | -46,984 | ||||||
Amounts reclassified from accumulated other comprehensive loss, net | — | 25,801 | -3 | 25,801 | ||||||
Total accumulated other comprehensive loss, net as of December 31, 2012 | $ | -24,634 | $ | -80,451 | -1 | $ | -105,085 | |||
Other comprehensive income before reclassification | 6,198 | 62 | -4 | 6,260 | ||||||
Amounts reclassified from accumulated other comprehensive loss, net | — | 25,871 | -4 | 25,871 | ||||||
Total accumulated other comprehensive loss, net as of December 31, 2013 | $ | -18,436 | $ | -54,518 | -1 | $ | -72,954 | |||
___________ | ||||||||||
(1) Net of deferred income tax benefit of $1,383 as of January 1, 2011, and $12,602, $27,413, and $10,829 as of December 31, 2011, 2012, and 2013, respectively. | ||||||||||
(2) Net of deferred income tax benefit of $25,748 for Other comprehensive income before reclassification and deferred income tax expense of $14,529 for Amounts reclassified from accumulated other comprehensive loss, net, for the year ended December 31, 2011. | ||||||||||
(3) Net of deferred income tax benefit of $30,946 for Other comprehensive income before reclassification and deferred income tax expense of $16,135 for Amounts reclassified from accumulated other comprehensive loss, net, for the year ended December 31, 2012. | ||||||||||
(4) Net of deferred income tax expense of $40 for Other comprehensive income before reclassification and deferred income tax expense of $16,544 for Amounts reclassified from accumulated other comprehensive loss, net, respectively, for the year ended December 31, 2013. | ||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Derivative Financial Instruments [Abstract] | ' | ||||||||||||||
Notional Amounts, Weighted-Average Fixed Rates, And Terms Associated With The Company's Interest Rate Swaps | ' | ||||||||||||||
Notional Amounts | Weighted Average Fixed Rate | Term | |||||||||||||
(In millions) | |||||||||||||||
$ | 1,250 | 2.98 | % | January 1, 2014 – December 31, 2014 | |||||||||||
$ | 1,300 | 2.84 | % | January 1, 2015 – December 31, 2015 | |||||||||||
$ | 1,300 | 2.74 | % | January 1, 2016 – December 31, 2016 | |||||||||||
$ | 1,000 | 2.53 | % | January 1, 2017 – December 31, 2017 | |||||||||||
$ | 750 | 2.54 | % | January 1, 2018 – December 31, 2018 | |||||||||||
Schedule Of Derivatives, Location In Consolidated Balance Sheets | ' | ||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||||||||
Liability Derivative Instruments: | (In thousands) | ||||||||||||||
Derivatives Designated as Hedging Instruments: | |||||||||||||||
Interest rate swap contracts | Current portion of other long-term liabilities | $ | 31,069 | Current portion of other long-term liabilities | $ | 23,117 | |||||||||
Interest rate swap contracts | Other long-term liabilities | 34,509 | Other long-term liabilities | 84,973 | |||||||||||
Total Derivatives | $ | 65,578 | $ | 108,090 | |||||||||||
Effects Of The Derivative Contracts On Consolidated Statements Of Operations | ' | ||||||||||||||
Years Ended December 31, | |||||||||||||||
Derivatives in Cash Flow Hedging Relationship | Amount of Gain (Loss) Recognized in OCI on Derivative Instruments (Effective Portion) | Location of Loss Reclassed from Accumulated OCI Into Income (Effective Portion) | Amount of Loss Reclassified from Accumulated OCI into Income | ||||||||||||
(Effective Portion) | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||
(In thousands) | (In thousands) | ||||||||||||||
Interest rate swap contracts | $ | 62 | $ | -49,486 | Cost of ATM operating revenues | $ | -25,871 | $ | -26,167 | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||
Fair Value Measurement Of Assets And Liabilities On A Recurring Basis | ' | ||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | |||||||||||||
Liabilities | |||||||||||||
Liabilities associated with interest rate swaps | $ | 65,578 | $ | — | $ | 65,578 | $ | — | |||||
Acquisition-related contingent consideration | 575 | — | — | 575 | |||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | |||||||||||||
Liabilities | |||||||||||||
Liabilities associated with interest rate swaps | $ | 108,090 | $ | — | $ | 108,090 | $ | — | |||||
Acquisition-related contingent consideration | 3,455 | — | — | 3,455 | |||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Commitments And Contingencies [Abstract] | ' | ||
Future Minimum Lease Payments Under Operating And Merchant Space Leases | ' | ||
2014 | $ | 8,284 | |
2015 | 6,098 | ||
2016 | 3,568 | ||
2017 | 2,739 | ||
2018 | 2,439 | ||
Thereafter | 3,721 | ||
Total minimum lease payments | $ | 26,849 | |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||||||||
Components Of Income Tax Expense | ' | ||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
Current: | |||||||||||||||||||
U.S. federal | $ | 26,766 | $ | 503 | $ | -86 | |||||||||||||
State and local | 5,503 | 812 | 1,774 | ||||||||||||||||
Foreign | 1,216 | — | — | ||||||||||||||||
Total current | $ | 33,485 | $ | 1,315 | $ | 1,688 | |||||||||||||
Deferred: | |||||||||||||||||||
U.S. federal | $ | 11,648 | $ | 24,005 | $ | -12,025 | |||||||||||||
State and local | -1,901 | 1,749 | -2,839 | ||||||||||||||||
Foreign | -1,214 | -60 | — | ||||||||||||||||
Total deferred | 8,533 | 25,694 | -14,864 | ||||||||||||||||
Total income tax expense (benefit) | $ | 42,018 | $ | 27,009 | $ | -13,176 | |||||||||||||
Computation Of Income Tax (Benefit) Expense By Applying U.S. Federal Statutory Tax Rate To Income (Loss) Before Taxes | ' | ||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
Income tax expense, at the statutory rate of 35.0% | $ | 21,932 | $ | 24,595 | $ | 19,940 | |||||||||||||
Provision to return and deferred tax adjustments | -1,637 | 200 | -190 | ||||||||||||||||
Change in federal and state effective tax rates | — | — | -780 | ||||||||||||||||
State tax, net of federal benefit | 2,275 | 1,858 | 2,418 | ||||||||||||||||
Permanent adjustments | -115 | 322 | 341 | ||||||||||||||||
Foreign subsidiary tax rate differences | 1,252 | 120 | 139 | ||||||||||||||||
Impact of entity restructuring | 15,501 | — | -37,019 | ||||||||||||||||
Foreign subsidiary change in statutory rate | — | — | 524 | ||||||||||||||||
Other | -6 | 67 | 256 | ||||||||||||||||
Subtotal | 39,202 | 27,162 | -14,371 | ||||||||||||||||
Change in valuation allowance | 2,816 | -153 | 1,195 | ||||||||||||||||
Total income tax expense (benefit) | $ | 42,018 | $ | 27,009 | $ | -13,176 | |||||||||||||
Net Current And Non-Current Deferred Tax Assets And Liabilities (By Segment) | ' | ||||||||||||||||||
United States | Europe | Other International | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||||
Current deferred tax asset | $ | 17,652 | $ | 12,839 | $ | 3,576 | $ | 107 | $ | 171 | $ | 395 | |||||||
Valuation allowance | — | — | -70 | -75 | -88 | -11 | |||||||||||||
Current deferred tax liability | -2 | -62 | -1,188 | -1,286 | — | — | |||||||||||||
Net current deferred tax asset (liability) | 17,650 | 12,777 | 2,318 | -1,254 | 83 | 384 | |||||||||||||
Noncurrent deferred tax asset | 31,414 | 55,704 | 24,487 | 14,888 | 3,945 | 2,341 | |||||||||||||
Valuation allowance | — | — | -9,900 | -10,233 | -2,008 | -244 | |||||||||||||
Noncurrent deferred tax liability | -36,264 | -30,348 | -5,909 | -3,401 | -1,755 | -2,421 | |||||||||||||
Net noncurrent deferred tax (liability) asset | -4,850 | 25,356 | 8,678 | 1,254 | 182 | -324 | |||||||||||||
Net deferred tax asset (liability) | $ | 12,800 | $ | 38,133 | $ | 10,996 | $ | — | $ | 265 | $ | 60 | |||||||
Deferred Tax Assets And Deferred Tax Liabilities Components Arising From Temporary Difference | ' | ||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
(In thousands) | |||||||||||||||||||
Current deferred tax assets: | |||||||||||||||||||
Reserve for receivables | $ | 258 | $ | 218 | |||||||||||||||
Accrued liabilities and inventory reserves | 5,069 | 3,813 | |||||||||||||||||
Net operating loss carryforward | 3,614 | 375 | |||||||||||||||||
Unrealized losses on interest rate swap contracts | 12,197 | 8,677 | |||||||||||||||||
Other | 261 | 258 | |||||||||||||||||
Subtotal | 21,399 | 13,341 | |||||||||||||||||
Valuation allowance | -158 | -86 | |||||||||||||||||
Current deferred tax assets | 21,241 | 13,255 | |||||||||||||||||
Noncurrent deferred tax assets: | |||||||||||||||||||
Net operating loss carryforward | 17,350 | 4,434 | |||||||||||||||||
Unrealized loss on interest rate swap contracts | 13,548 | 32,916 | |||||||||||||||||
Stock-based compensation | 6,111 | 4,819 | |||||||||||||||||
Asset retirement obligations | 2,434 | 4,963 | |||||||||||||||||
Tangible and intangible assets | 15,970 | 24,065 | |||||||||||||||||
Deferred revenue | 798 | 138 | |||||||||||||||||
Other | 3,635 | 1,598 | |||||||||||||||||
Subtotal | 59,846 | 72,933 | |||||||||||||||||
Valuation allowance | -11,908 | -10,477 | |||||||||||||||||
Noncurrent deferred tax assets | 47,938 | 62,456 | |||||||||||||||||
Current deferred tax liabilities: | |||||||||||||||||||
Other | -1,190 | -1,348 | |||||||||||||||||
Current deferred tax liabilities | -1,190 | -1,348 | |||||||||||||||||
Noncurrent deferred tax liabilities: | |||||||||||||||||||
Tangible and intangible assets | -41,303 | -33,441 | |||||||||||||||||
Asset retirement obligations | -2,625 | -2,729 | |||||||||||||||||
Noncurrent deferred tax liabilities | -43,928 | -36,170 | |||||||||||||||||
Net deferred tax asset | $ | 24,061 | $ | 38,193 | |||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||||
Reconciliation Of Adjusted Earnings Before Interest, Taxes, Depreciation And Amortization To Net Income Attributable To Controlling Interests | ' | ||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
Adjusted EBITDA | $ | 218,842 | $ | 189,533 | $ | 156,307 | |||||||||||||
Less: | |||||||||||||||||||
Loss on disposal of assets | 2,790 | 1,787 | 981 | ||||||||||||||||
Other income | -3,150 | -1,830 | -849 | ||||||||||||||||
Noncontrolling interests | -2,399 | -1,668 | -1,897 | ||||||||||||||||
Stock-based compensation expense | 12,290 | 11,072 | 9,283 | ||||||||||||||||
Acquisition-related expenses | 15,400 | 3,332 | 4,747 | ||||||||||||||||
Other adjustments to cost of ATM operating revenues (1) | 8,670 | — | — | ||||||||||||||||
Other adjustments to selling, general, and administrative expenses (2) | 505 | 972 | — | ||||||||||||||||
EBITDA | $ | 184,736 | $ | 175,868 | $ | 144,042 | |||||||||||||
Less: | |||||||||||||||||||
Interest expense, net, including amortization of deferred financing costs and note discount | 23,086 | 22,057 | 21,109 | ||||||||||||||||
Income tax expense (benefit) | 42,018 | 27,009 | -13,176 | ||||||||||||||||
Depreciation and accretion expense | 68,480 | 61,499 | 47,962 | ||||||||||||||||
Amortization expense | 27,336 | 21,712 | 17,914 | ||||||||||||||||
Net income attributable to controlling interests and available to common stockholders | $ | 23,816 | $ | 43,591 | $ | 70,233 | |||||||||||||
____________ | |||||||||||||||||||
(1) Adjustment to cost of ATM operating revenues for the year ended December 31, 2013 is related to the charge for retroactive property taxes on certain ATM locations in the U.K. | |||||||||||||||||||
(2) Adjustment to selling, general, and administrative expense for the years ended December 31, 2013 and 2012 represent severance related costs associated with management of the Company’s U.K. operations. | |||||||||||||||||||
Financial Information For Each Of The Company's Reporting Segments | ' | ||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||
U.S. | Europe | Other International | Eliminations | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenue from external customers | $ | 657,390 | $ | 178,448 | $ | 40,648 | $ | — | $ | 876,486 | |||||||||
Intersegment revenues | 8,319 | 407 | 56 | -8,782 | — | ||||||||||||||
Cost of revenues | 426,635 | 140,812 | 36,122 | -8,282 | 595,287 | ||||||||||||||
Selling, general, and administrative expenses | 67,890 | 13,575 | 3,127 | — | 84,592 | ||||||||||||||
Acquisition-related expenses | 8,036 | 7,333 | 31 | — | 15,400 | ||||||||||||||
Loss (gain) on disposal of assets | 1,626 | -123 | 1,287 | — | 2,790 | ||||||||||||||
Adjusted EBITDA | 183,498 | 33,580 | 2,261 | -497 | 218,842 | ||||||||||||||
Depreciation and accretion expense | 41,530 | 22,448 | 4,582 | -80 | 68,480 | ||||||||||||||
Amortization expense | 21,101 | 5,541 | 694 | — | 27,336 | ||||||||||||||
Interest expense, net, including amortization of deferred financing costs and note discount | 21,494 | 1,262 | 330 | — | 23,086 | ||||||||||||||
Income tax expense (benefit) | 42,017 | -190 | 191 | — | 42,018 | ||||||||||||||
Capital expenditures (1) | $ | 53,023 | $ | 21,745 | $ | 2,434 | $ | -49 | $ | 77,153 | |||||||||
Year Ended December 31, 2012 | |||||||||||||||||||
U.S. | Europe | Other International | Eliminations | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenue from external customers | $ | 626,241 | $ | 117,814 | $ | 36,394 | $ | — | $ | 780,449 | |||||||||
Intersegment revenues | 10,087 | — | 89 | -10,176 | — | ||||||||||||||
Cost of revenues | 423,813 | 93,030 | 28,909 | -9,665 | 536,087 | ||||||||||||||
Selling, general, and administrative expenses | 54,635 | 7,491 | 2,970 | 429 | 65,525 | ||||||||||||||
Acquisition-related expenses | 3,207 | 120 | 5 | — | 3,332 | ||||||||||||||
Loss on disposal of assets | 1,716 | 61 | 10 | — | 1,787 | ||||||||||||||
Adjusted EBITDA | 168,915 | 18,256 | 3,303 | -941 | 189,533 | ||||||||||||||
Depreciation and accretion expense | 37,831 | 19,894 | 3,768 | 6 | 61,499 | ||||||||||||||
Amortization expense | 20,088 | 1,437 | 187 | — | 21,712 | ||||||||||||||
Interest expense, net, including amortization of deferred financing costs | 21,005 | 647 | 405 | — | 22,057 | ||||||||||||||
Income tax expense (benefit) | 27,069 | — | -60 | — | 27,009 | ||||||||||||||
Capital expenditures (1) | $ | 62,496 | $ | 21,839 | $ | 8,851 | $ | -383 | $ | 92,803 | |||||||||
Year Ended December 31, 2011 | |||||||||||||||||||
U.S. | Europe | Other International | Eliminations | Total | |||||||||||||||
(In thousands) | |||||||||||||||||||
Revenue from external customers | $ | 501,439 | $ | 97,665 | $ | 25,472 | $ | — | $ | 624,576 | |||||||||
Intersegment revenues | 4,277 | — | 111 | -4,388 | — | ||||||||||||||
Cost of revenues | 329,782 | 75,109 | 19,612 | -4,388 | 420,115 | ||||||||||||||
Selling, general, and administrative expenses | 47,342 | 5,950 | 2,290 | — | 55,582 | ||||||||||||||
Acquisition-related expenses | 4,747 | — | — | — | 4,747 | ||||||||||||||
Loss (gain) on disposal of assets | 791 | 215 | -25 | — | 981 | ||||||||||||||
Adjusted EBITDA | 137,840 | 16,554 | 1,913 | — | 156,307 | ||||||||||||||
Depreciation and accretion expense | 28,719 | 16,194 | 3,070 | -21 | 47,962 | ||||||||||||||
Amortization expense | 15,985 | 1,892 | 37 | — | 17,914 | ||||||||||||||
Interest expense, net, including amortization of deferred financing costs | 17,144 | 3,260 | 705 | — | 21,109 | ||||||||||||||
Income tax benefit | -13,176 | — | — | — | -13,176 | ||||||||||||||
Capital expenditures (1) | $ | 46,154 | $ | 20,478 | $ | 254 | $ | — | $ | 66,886 | |||||||||
_________ | |||||||||||||||||||
(1) | Capital expenditure amounts include payments made for exclusive license agreements and site acquisition costs. Additionally, capital expenditure amounts for Mexico (included in the Other International segment) are reflected gross of any noncontrolling interest amounts. | ||||||||||||||||||
Identifiable Assets | ' | ||||||||||||||||||
31-Dec-13 | 31-Dec-12 | 31-Dec-11 | |||||||||||||||||
(In thousands) | |||||||||||||||||||
United States | $ | 931,396 | $ | 714,110 | $ | 665,553 | |||||||||||||
Europe | 341,618 | 108,894 | 93,182 | ||||||||||||||||
Other International | 26,452 | 30,066 | 16,626 | ||||||||||||||||
Eliminations | -243,263 | -84,178 | -62,560 | ||||||||||||||||
Total | $ | 1,056,203 | $ | 768,892 | $ | 712,801 | |||||||||||||
Supplemental_Guarantor_Financi1
Supplemental Guarantor Financial Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Supplemental Guarantor Financial Information [Abstract] | ' | |||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ' | |||||||||||||||
Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Revenues | $ | — | $ | 665,709 | $ | 219,559 | $ | -8,782 | $ | 876,486 | ||||||
Operating costs and expenses | 12,583 | 554,235 | 235,429 | -8,362 | 793,885 | |||||||||||
Operating (loss) income | -12,583 | 111,474 | -15,870 | -420 | 82,601 | |||||||||||
Interest expense, net, including amortization of deferred financing costs and note discount | 10,357 | 11,137 | 1,592 | — | 23,086 | |||||||||||
Equity in (earnings) losses of subsidiaries | -87,874 | 6,499 | — | 81,375 | — | |||||||||||
Other expense (income), net | 5,453 | -3,519 | -5,084 | — | -3,150 | |||||||||||
Income (loss) before income taxes | 59,481 | 97,357 | -12,378 | -81,795 | 62,665 | |||||||||||
Income tax expense | 38,414 | 3,603 | 1 | — | 42,018 | |||||||||||
Net income (loss) | 21,067 | 93,754 | -12,379 | -81,795 | 20,647 | |||||||||||
Net loss attributable to noncontrolling interests | — | — | — | -3,169 | -3,169 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 21,067 | 93,754 | -12,379 | -78,626 | 23,816 | |||||||||||
Other comprehensive (loss) income attributable to controlling interests | -11,151 | 39,646 | 3,636 | -35 | 32,096 | |||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 9,916 | $ | 133,400 | $ | -8,743 | $ | -78,661 | $ | 55,912 | ||||||
Year Ended December 31, 2012 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Revenues | $ | — | $ | 636,328 | $ | 154,297 | $ | -10,176 | $ | 780,449 | ||||||
Operating costs and expenses | 11,366 | 529,924 | 157,882 | -9,230 | 689,942 | |||||||||||
Operating (loss) income | -11,366 | 106,404 | -3,585 | -946 | 90,507 | |||||||||||
Interest (income) expense, net, including amortization of deferred financing costs | -541 | 21,546 | 1,052 | — | 22,057 | |||||||||||
Equity in (earnings) losses of subsidiaries | -78,992 | 7,890 | — | 71,102 | — | |||||||||||
Other expense (income), net | 8 | -4,529 | 3,257 | -557 | -1,821 | |||||||||||
Income (loss) before income taxes | 68,159 | 81,497 | -7,894 | -71,491 | 70,271 | |||||||||||
Income tax expense (benefit) | 24,508 | 2,561 | -60 | — | 27,009 | |||||||||||
Net income (loss) | 43,651 | 78,936 | -7,834 | -71,491 | 43,262 | |||||||||||
Net loss attributable to noncontrolling interests | — | — | — | -329 | -329 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 43,651 | 78,936 | -7,834 | -71,162 | 43,591 | |||||||||||
Other comprehensive income (loss) attributable to controlling interests | 14,536 | -38,689 | 2,970 | -109 | -21,292 | |||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 58,187 | $ | 40,247 | $ | -4,864 | $ | -71,271 | $ | 22,299 | ||||||
Condensed Consolidating Statements of Comprehensive Income — continued | ||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Revenues | $ | — | $ | 505,716 | $ | 123,248 | $ | -4,388 | $ | 624,576 | ||||||
Operating costs and expenses | 9,604 | 417,762 | 124,344 | -4,409 | 547,301 | |||||||||||
Operating (loss) income | -9,604 | 87,954 | -1,096 | 21 | 77,275 | |||||||||||
Interest (income) expense, net, including amortization of deferred financing costs | -940 | 18,084 | 3,965 | — | 21,109 | |||||||||||
Equity in (earnings) losses of subsidiaries | -47,421 | 7,572 | — | 39,849 | — | |||||||||||
Other (income) expense, net | -19,252 | 15,714 | 2,734 | — | -804 | |||||||||||
Income (loss) before income taxes | 58,009 | 46,584 | -7,795 | -39,828 | 56,970 | |||||||||||
Income tax benefit | -12,116 | -1,060 | — | — | -13,176 | |||||||||||
Net income (loss) | 70,125 | 47,644 | -7,795 | -39,828 | 70,146 | |||||||||||
Net loss attributable to noncontrolling interests | — | — | — | -87 | -87 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 70,125 | 47,644 | -7,795 | -39,741 | 70,233 | |||||||||||
Other comprehensive income (loss) attributable to controlling interests | 10,687 | -29,405 | -131 | 219 | -18,630 | |||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 80,812 | $ | 18,239 | $ | -7,926 | $ | -39,522 | $ | 51,603 | ||||||
Condensed Consolidating Balance Sheets | ' | |||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 412 | $ | 73,379 | $ | 13,148 | $ | — | $ | 86,939 | ||||||
Accounts and notes receivable, net | 130,835 | 43,929 | 17,942 | -134,432 | 58,274 | |||||||||||
Current portion of deferred tax asset, net | 15,735 | 1,915 | 3,552 | — | 21,202 | |||||||||||
Other current assets | 917 | 11,580 | 27,948 | -88 | 40,357 | |||||||||||
Total current assets | 147,899 | 130,803 | 62,590 | -134,520 | 206,772 | |||||||||||
Property and equipment, net | — | 166,909 | 104,488 | -431 | 270,966 | |||||||||||
Intangible assets, net | 9,466 | 78,404 | 73,745 | — | 161,615 | |||||||||||
Goodwill | — | 288,439 | 116,052 | — | 404,491 | |||||||||||
Investments in and advances to subsidiaries | 445,318 | 245,985 | — | -691,303 | — | |||||||||||
Intercompany receivable | 150,890 | 43,965 | — | -194,855 | — | |||||||||||
Deferred tax asset, net | — | — | 9,680 | — | 9,680 | |||||||||||
Prepaid expenses, deferred costs, and other noncurrent assets | — | 1,164 | 1,515 | — | 2,679 | |||||||||||
Total assets | $ | 753,573 | $ | 955,669 | $ | 368,070 | $ | -1,021,109 | $ | 1,056,203 | ||||||
Liabilities and Stockholders' Equity: | ||||||||||||||||
Current portion of long-term debt and notes payable | $ | — | $ | — | $ | 1,289 | $ | — | $ | 1,289 | ||||||
Current portion of other long-term liabilities | — | 34,009 | 1,588 | — | 35,597 | |||||||||||
Accounts payable and accrued liabilities | 12,953 | 213,128 | 84,705 | -134,029 | 176,757 | |||||||||||
Current portion of deferred tax liability, net | — | — | 1,152 | — | 1,152 | |||||||||||
Total current liabilities | 12,953 | 247,137 | 88,734 | -134,029 | 214,795 | |||||||||||
Long-term debt | 489,182 | 3 | 40 | — | 489,225 | |||||||||||
Intercompany payable | — | 148,306 | 99,420 | -247,726 | — | |||||||||||
Asset retirement obligations | — | 21,517 | 39,148 | — | 60,665 | |||||||||||
Deferred tax liability, net | 4,324 | 526 | 818 | — | 5,668 | |||||||||||
Other long-term liabilities | — | 38,681 | 55 | — | 38,736 | |||||||||||
Total liabilities | 506,459 | 456,170 | 228,215 | -381,755 | 809,089 | |||||||||||
Stockholders' equity | 247,114 | 499,499 | 139,855 | -639,354 | 247,114 | |||||||||||
Total liabilities and stockholders' equity | $ | 753,573 | $ | 955,669 | $ | 368,070 | $ | -1,021,109 | $ | 1,056,203 | ||||||
Condensed Consolidating Balance Sheets — continued | ||||||||||||||||
As of December 31, 2012 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 5 | $ | 10,674 | $ | 3,182 | $ | — | $ | 13,861 | ||||||
Accounts and notes receivable, net | 56,722 | 39,384 | 9,934 | -60,905 | 45,135 | |||||||||||
Current portion of deferred tax asset, net | 11,683 | 1,094 | 309 | — | 13,086 | |||||||||||
Other current assets | 764 | 28,116 | 14,793 | -6 | 43,667 | |||||||||||
Total current assets | 69,174 | 79,268 | 28,218 | -60,911 | 115,749 | |||||||||||
Property and equipment, net | — | 154,737 | 82,001 | -500 | 236,238 | |||||||||||
Intangible assets, net | 4,684 | 87,670 | 10,219 | — | 102,573 | |||||||||||
Goodwill | — | 268,454 | 17,242 | — | 285,696 | |||||||||||
Investments in and advances to subsidiaries | 209,668 | 100,048 | — | -309,716 | — | |||||||||||
Intercompany receivable | 204,098 | 48,128 | — | -252,226 | — | |||||||||||
Deferred tax asset, net | 23,162 | 2,195 | 1,111 | — | 26,468 | |||||||||||
Prepaid expenses, deferred costs, and other noncurrent assets | — | 1,999 | 169 | — | 2,168 | |||||||||||
Total assets | $ | 510,786 | $ | 742,499 | $ | 138,960 | $ | -623,353 | $ | 768,892 | ||||||
Liabilities and Stockholders' Equity: | ||||||||||||||||
Current portion of long-term debt and notes payable | $ | — | $ | — | $ | 1,467 | $ | — | $ | 1,467 | ||||||
Current portion of other long-term liabilities | — | 25,658 | 1,562 | — | 27,220 | |||||||||||
Accounts payable and accrued liabilities | 9,982 | 122,501 | 30,127 | -60,905 | 101,705 | |||||||||||
Current portion of deferred tax liability, net | — | — | 1,179 | — | 1,179 | |||||||||||
Total current liabilities | 9,982 | 148,159 | 34,335 | -60,905 | 131,571 | |||||||||||
Long-term debt | 352,000 | 15 | 1,337 | — | 353,352 | |||||||||||
Intercompany payable | — | 250,827 | 54,270 | -305,097 | — | |||||||||||
Asset retirement obligations | — | 19,176 | 22,686 | — | 41,862 | |||||||||||
Deferred tax liability, net | — | — | 182 | — | 182 | |||||||||||
Other long-term liabilities | — | 92,966 | 155 | — | 93,121 | |||||||||||
Total liabilities | 361,982 | 511,143 | 112,965 | -366,002 | 620,088 | |||||||||||
Stockholders' equity | 148,804 | 231,356 | 25,995 | -257,351 | 148,804 | |||||||||||
Total liabilities and stockholders' equity | $ | 510,786 | $ | 742,499 | $ | 138,960 | $ | -623,353 | $ | 768,892 | ||||||
Condensed Consolidating Statement of Cash Flows | ' | |||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Net cash (used in) provided by operating activities | $ | -39,202 | $ | 193,206 | $ | 29,602 | $ | -49 | $ | 183,557 | ||||||
Additions to property and equipment | — | -50,414 | -21,148 | — | -71,562 | |||||||||||
Payments for exclusive license agreements, site acquisition costs, and other intangible assets | — | -2,609 | -2,982 | — | -5,591 | |||||||||||
Intercompany fixed asset mark-up | — | — | -49 | 49 | — | |||||||||||
Investment in subsidiary | -80,680 | -131,668 | — | 212,348 | — | |||||||||||
Funding of intercompany notes payable | -335,266 | -3,100 | — | 338,366 | — | |||||||||||
Payments received on intercompany notes payable | 298,303 | 35,266 | — | -333,569 | — | |||||||||||
Acquisitions, net of cash acquired | — | -19,997 | -169,590 | — | -189,587 | |||||||||||
Net cash used in investing activities | -117,643 | -172,522 | -193,769 | 217,194 | -266,740 | |||||||||||
Proceeds from borrowings of long-term debt | 311,277 | — | — | — | 311,277 | |||||||||||
Repayments of long-term debt and capital leases | -396,153 | -11 | -1,503 | — | -397,667 | |||||||||||
Proceeds from issuance of convertible notes | 287,500 | — | — | — | 287,500 | |||||||||||
Proceeds from issuance of warrants | 40,509 | — | — | — | 40,509 | |||||||||||
Purchase of convertible note hedges | -72,565 | — | — | — | -72,565 | |||||||||||
Proceeds from intercompany notes payable | — | 168,604 | 169,762 | -338,366 | — | |||||||||||
Repayments of intercompany notes payable | — | -206,775 | -126,794 | 333,569 | — | |||||||||||
Debt issuance and modification costs | -7,540 | — | — | — | -7,540 | |||||||||||
Payment of contingent acquisition consideration | — | -750 | — | — | -750 | |||||||||||
Proceeds from exercises of stock options | 2,626 | — | — | — | 2,626 | |||||||||||
Excess tax benefit from stock-based compensation expense | 24,007 | — | — | — | 24,007 | |||||||||||
Repurchase of capital stock | -32,409 | — | — | — | -32,409 | |||||||||||
Issuance of capital stock | — | 80,953 | 131,395 | -212,348 | — | |||||||||||
Net cash provided by financing activities | 157,252 | 42,021 | 172,860 | -217,145 | 154,988 | |||||||||||
Effect of exchange rate changes on cash | — | — | 1,273 | — | 1,273 | |||||||||||
Net increase in cash and cash equivalents | 407 | 62,705 | 9,966 | — | 73,078 | |||||||||||
Cash and cash equivalents as of beginning of period | 5 | 10,674 | 3,182 | — | 13,861 | |||||||||||
Cash and cash equivalents as of end of period | $ | 412 | $ | 73,379 | $ | 13,148 | $ | — | $ | 86,939 | ||||||
Condensed Consolidating Statements of Cash Flows — continued | ||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Net cash (used in) provided by operating activities | $ | -2,375 | $ | 116,424 | $ | 22,722 | $ | -383 | $ | 136,388 | ||||||
Additions to property and equipment | — | -60,932 | -28,647 | — | -89,579 | |||||||||||
Payments for exclusive license agreements, site acquisition costs, and other intangible assets | — | -1,564 | -1,660 | — | -3,224 | |||||||||||
Intercompany fixed asset mark-up | — | — | -383 | 383 | — | |||||||||||
Funding of intercompany notes payable | -209,875 | -11,797 | — | 221,672 | — | |||||||||||
Payments received on intercompany notes payable | 223,680 | — | — | -223,680 | — | |||||||||||
Acquisitions, net of cash acquired | — | -17,661 | -3,300 | — | -20,961 | |||||||||||
Net cash provided by (used in) investing activities | 13,805 | -91,954 | -33,990 | -1,625 | -113,764 | |||||||||||
Proceeds from borrowings of long-term debt | 245,100 | — | — | — | 245,100 | |||||||||||
Repayments of long-term debt and capital leases | -259,100 | -11 | -2,485 | — | -261,596 | |||||||||||
Proceeds from intercompany notes payable | — | 205,174 | 16,498 | -221,672 | — | |||||||||||
Repayments of intercompany notes payable | — | -223,680 | — | 223,680 | — | |||||||||||
Repayments of borrowings under bank overdraft facility, net | — | — | -162 | — | -162 | |||||||||||
Proceeds from exercises of stock options | 7,344 | — | — | — | 7,344 | |||||||||||
Repurchase of capital stock | -4,770 | — | — | — | -4,770 | |||||||||||
Net cash (used in) provided by financing activities | -11,426 | -18,517 | 13,851 | 2,008 | -14,084 | |||||||||||
Effect of exchange rate changes on cash | — | — | -255 | — | -255 | |||||||||||
Net increase in cash and cash equivalents | 4 | 5,953 | 2,328 | — | 8,285 | |||||||||||
Cash and cash equivalents as of beginning of period | 1 | 4,721 | 854 | — | 5,576 | |||||||||||
Cash and cash equivalents as of end of period | $ | 5 | $ | 10,674 | $ | 3,182 | $ | — | $ | 13,861 | ||||||
Condensed Consolidating Statements of Cash Flows — continued | ||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||
Parent | Guarantors | Non-Guarantors | Eliminations | Total | ||||||||||||
(In thousands) | ||||||||||||||||
Net cash provided by operating activities | $ | 2,496 | $ | 100,460 | $ | 10,369 | $ | — | $ | 113,325 | ||||||
Additions to property and equipment | — | -45,640 | -18,778 | — | -64,418 | |||||||||||
Payments for exclusive license agreements, site acquisition costs, and other intangible assets | — | -514 | -1,954 | — | -2,468 | |||||||||||
Investment in subsidiary | — | -100,048 | — | 100,048 | — | |||||||||||
Funding of intercompany notes payable | -316,231 | — | — | 316,231 | — | |||||||||||
Payments received on intercompany notes payable | 189,040 | 93,663 | — | -282,703 | — | |||||||||||
Acquisitions, net of cash acquired | -2,800 | -164,811 | 43 | — | -167,568 | |||||||||||
Net cash used in investing activities | -129,991 | -217,350 | -20,689 | 133,576 | -234,454 | |||||||||||
Proceeds from borrowings of long-term debt | 381,738 | — | — | — | 381,738 | |||||||||||
Repayments of long-term debt and capital leases | -261,938 | -3 | -3,050 | — | -264,991 | |||||||||||
Proceeds from intercompany notes payable | — | 308,294 | 7,937 | -316,231 | — | |||||||||||
Repayments of intercompany notes payable | — | -188,899 | -93,804 | 282,703 | — | |||||||||||
Repayments of borrowings under bank overdraft facility, net | — | — | -830 | — | -830 | |||||||||||
Proceeds from exercises of stock options | 11,420 | — | — | — | 11,420 | |||||||||||
Repurchase of capital stock | -3,150 | — | — | — | -3,150 | |||||||||||
Issuance of capital stock | — | — | 100,048 | -100,048 | — | |||||||||||
Debt issuance and modification costs | -655 | — | — | — | -655 | |||||||||||
Net cash provided by financing activities | 127,415 | 119,392 | 10,301 | -133,576 | 123,532 | |||||||||||
Effect of exchange rate changes on cash | — | — | -16 | — | -16 | |||||||||||
Net (decrease) increase in cash and cash equivalents | -80 | 2,502 | -35 | — | 2,387 | |||||||||||
Cash and cash equivalents as of beginning of period | 81 | 2,219 | 889 | — | 3,189 | |||||||||||
Cash and cash equivalents as of end of period | $ | 1 | $ | 4,721 | $ | 854 | $ | — | $ | 5,576 | ||||||
Supplemental_Selected_Quarterl1
Supplemental Selected Quarterly Financial Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Supplemental Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||
Schedule Of Supplemental Selected Quarterly Financial Information | ' | |||||||||||||||
Quarter Ended | ||||||||||||||||
31-Mar | 30-Jun | 30-Sep | 31-Dec | Total | ||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||
2013 | ||||||||||||||||
Total Revenues | $ | 197,738 | $ | 207,984 | $ | 228,819 | $ | 241,945 | $ | 876,486 | ||||||
Gross profit (1) | 64,049 | 70,274 | 68,550 | 78,326 | 281,199 | |||||||||||
Net income (loss) | 9,148 | 14,765 | -8,982 | 5,716 | 20,647 | |||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 9,430 | 15,327 | -8,408 | 7,467 | 23,816 | |||||||||||
Basic net income (loss) per common share | $ | 0.21 | $ | 0.34 | $ | -0.19 | $ | 0.16 | $ | 0.52 | ||||||
Diluted net income (loss) per common share | $ | 0.21 | $ | 0.33 | $ | -0.19 | $ | 0.16 | $ | 0.52 | ||||||
2012 | ||||||||||||||||
Total revenues | $ | 191,040 | $ | 192,020 | $ | 199,029 | $ | 198,360 | $ | 780,449 | ||||||
Gross profit (2) | 58,632 | 58,920 | 62,300 | 64,510 | 244,362 | |||||||||||
Net income | 10,043 | 9,579 | 12,706 | 10,934 | 43,262 | |||||||||||
Net income attributable to controlling interests and available to common stockholders | 9,829 | 9,664 | 12,897 | 11,201 | 43,591 | |||||||||||
Basic net income per common share | $ | 0.22 | $ | 0.22 | $ | 0.29 | $ | 0.25 | $ | 0.97 | ||||||
Diluted net income per common share | $ | 0.22 | $ | 0.21 | $ | 0.28 | $ | 0.25 | $ | 0.96 | ||||||
____________ | ||||||||||||||||
-1 | Excludes $20.0 million, $19.9 million, $22.8 million and $24.5 million of depreciation, accretion, and amortization for the quarters ended March 31, June 30, September 30, and December 31, respectively. | |||||||||||||||
-2 | Excludes $17.4 million, $18.2 million, $19.1 million and $20.0 million of depreciation, accretion, and amortization for the quarters ended March 31, June 30, September 30, and December 31, respectively. | |||||||||||||||
Basis_Of_Presentation_and_Summ1
Basis Of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
item | item | ||||
state | state | ||||
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of devices operated by entity | 80,600 | ' | 80,600 | ' | ' |
Number of U.S. states devices located | 50 | ' | 50 | ' | ' |
Number of devices that entity provided managed services to | 13,600 | ' | 13,600 | ' | ' |
Number of devices under contract with financial institutions | 20,400 | ' | 20,400 | ' | ' |
Number of ATMs participating in Allpoint network | 55,000 | ' | 55,000 | ' | ' |
Restricted cash in current assets | $14,896,000 | $8,298,000 | $14,896,000 | $8,298,000 | ' |
Average Amount of Vault Cash | 2,700,000,000 | 2,200,000,000 | ' | ' | ' |
Depreciation expense for property and equipment | ' | ' | 65,700,000 | 58,900,000 | 45,700,000 |
Number of reporting units for goodwill impairment test | ' | ' | 6 | ' | ' |
Payment term extended to associate VAR | ' | ' | '30 days | ' | ' |
Advertising expense | ' | ' | $4,400,000 | $3,000,000 | $2,300,000 |
Working capital payment term | ' | ' | 'the Company typically pays its vendors on 30B day terms and is not required to pay certain of its merchants until 20B days after the end of each calendar month | ' | ' |
U.S. [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of devices operated by entity | 64,300 | ' | 64,300 | ' | ' |
U.K. [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of devices operated by entity | 11,500 | ' | 11,500 | ' | ' |
Germany [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of devices operated by entity | 900 | ' | 900 | ' | ' |
Mexico [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of devices operated by entity | 2,000 | ' | 2,000 | ' | ' |
Majority owned interest percentage | 51.00% | ' | 51.00% | ' | ' |
Australia [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of ATMs participating in Allpoint network | 5,000 | ' | 5,000 | ' | ' |
Canada [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Number of devices operated by entity | 1,900 | ' | 1,900 | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Vault cash agreement expiration date | ' | ' | 'December 2016 | ' | ' |
Property and equipment useful life | ' | ' | '10 years | ' | ' |
Weighted-average discount rate used to estimate fair value of reporting units | ' | ' | 12.00% | 12.00% | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
General And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' |
Vault cash agreement expiration date | ' | ' | 'March 2014 | ' | ' |
Property and equipment useful life | ' | ' | '3 years | ' | ' |
Weighted-average discount rate used to estimate fair value of reporting units | ' | ' | 10.00% | 10.00% | ' |
Basis_Of_Presentation_and_Summ2
Basis Of Presentation and Summary of Significant Accounting Policies (Schedule Of Depreciation Accretion And Amortization Amounts Excluded From Operating Revenues and Gross Profit) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basis Of Presentation and Summary of Significant Accounting Policies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and accretion expenses related to ATMs and ATM-related assets | ' | ' | ' | ' | ' | ' | ' | ' | $59,841 | $53,028 | $41,364 |
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 27,336 | 21,712 | 17,914 |
Total depreciation, accretion, and amortization expenses excluded from Cost of ATM operating revenues and Gross profit | $24,500 | $22,800 | $19,900 | $20,000 | $20,000 | $19,100 | $18,200 | $17,400 | $87,177 | $74,740 | $59,278 |
Recovered_Sheet3
Basis Of Presentation And Summary Of Significant Accounting Policies (Summary Of Primary Inventory Components) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ' | ' |
Inventory gross | $6,035 | $5,578 |
Less: Inventory reserves | -733 | -1,189 |
Net inventory | 5,302 | 4,389 |
ATMs [Member] | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory gross | 2,022 | 2,734 |
ATM Parts And Supplies [Member] | ' | ' |
Inventory [Line Items] | ' | ' |
Inventory gross | $4,013 | $2,844 |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 07, 2013 | Dec. 31, 2013 | Aug. 07, 2013 | |
USD ($) | USD ($) | USD ($) | i-design group plc [Member] | Aptus Financial [Member] | Merrimak ATM Group LLC [Member] | Cardpoint Limited [Member] | Cardpoint Limited [Member] | Cardpoint Limited [Member] | CGI Inc [Member] | U.K. [Member] | U.K. [Member] | U.K. [Member] | Germany [Member] | Germany [Member] | |
item | item | item | USD ($) | GBP (£) | USD ($) | item | item | Cardpoint Limited [Member] | Cardpoint Limited [Member] | item | Cardpoint Limited [Member] | ||||
USD ($) | item | item | |||||||||||||
Business Acquisitions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective date of acquisition | ' | ' | ' | 7-Mar-13 | 1-May-13 | 3-Jun-13 | 7-Aug-13 | 7-Aug-13 | ' | 1-Oct-13 | ' | ' | ' | ' | ' |
Number of automated teller machines | 80,600 | ' | ' | ' | 3,300 | 4,800 | ' | ' | ' | 1,000 | 11,500 | ' | 7,100 | 900 | 800 |
Business Combination, gross purchase consideration | ' | ' | ' | ' | ' | ' | $153,500,000 | £ 100,000,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, additional consideration for earnings | ' | ' | ' | ' | ' | ' | 9,000,000 | 5,900,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, management bonus paid on bahalf of the Seller | ' | ' | ' | ' | ' | ' | 700,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, total consideration | ' | ' | ' | ' | ' | ' | 161,800,000 | 105,400,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | 46,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Loss of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition-related expenses | 15,400,000 | 3,332,000 | 4,747,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,800,000 | ' | ' | ' |
Goodwill | 404,491,000 | 285,696,000 | 271,562,000 | ' | ' | ' | ' | ' | 90,913,000 | ' | ' | ' | ' | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Summary_of_Prelim
Acquisitions (Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 07, 2013 |
In Thousands, unless otherwise specified | Cardpoint Limited [Member] | |||
Business Acquisitions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | $4,782 |
Accounts and notes receivable | ' | ' | ' | 619 |
Inventory | ' | ' | ' | 863 |
Restricted cash | ' | ' | ' | 7,522 |
Prepaid expenses, deferred costs, and other current assets | ' | ' | ' | 6,665 |
Property and equipment | ' | ' | ' | 28,548 |
Deferred tax assets | ' | ' | ' | 22,117 |
Intangible assets | ' | ' | ' | 59,673 |
Goodwill | 404,491 | 285,696 | 271,562 | 90,913 |
Total assets acquired | ' | ' | ' | 221,702 |
Accounts payable | ' | ' | ' | 6,052 |
Accrued liabilities | ' | ' | ' | 24,393 |
Deferred revenue | ' | ' | ' | 56 |
Asset retirement obligations | ' | ' | ' | 16,521 |
Deferred tax liabilities | ' | ' | ' | 12,852 |
Total liabilities assumed | ' | ' | ' | 59,874 |
Net assets acquired | ' | ' | ' | $161,828 |
Acquisitions_Schedule_of_intan
Acquisitions (Schedule of intangible assets acquired) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Aug. 07, 2013 | Aug. 07, 2013 | Dec. 31, 2013 | Aug. 07, 2013 | Dec. 31, 2013 | Aug. 07, 2013 |
Cardpoint Limited [Member] | Customer Contracts [Member] | Trade Name [Member] | Trade Name [Member] | Non-Compete Agreements [Member] | Non-Compete Agreements [Member] | ||
Cardpoint Limited [Member] | Cardpoint Limited [Member] | Cardpoint Limited [Member] | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Acquired intangible assets, fair values | $76,803 | $59,673 | $50,291 | $9,867 | $9,096 | $1,284 | $286 |
Acquired intangible assets, useful Lives | ' | ' | '7 years | '14 years 9 months 18 days | '15 years | '2 years 6 months | '1 year |
Acquired intangible assets, weighted average period before next renewal | ' | ' | '3 years 10 months 24 days | ' | ' | ' | ' |
Acquisitions_Pro_Forma_Results
Acquisitions (Pro Forma Results of Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $241,945 | $228,819 | $207,984 | $197,738 | $198,360 | $199,029 | $192,020 | $191,040 | $876,486 | $780,449 | $624,576 |
Net income (loss) attributable to controlling interests and available to common stockholders | 7,467 | -8,408 | 15,327 | 9,430 | 11,201 | 12,897 | 9,664 | 9,829 | 23,816 | 43,591 | 70,233 |
Net income per common share - basic | $0.16 | ($0.19) | $0.34 | $0.21 | $0.25 | $0.29 | $0.22 | $0.22 | $0.52 | $0.97 | $1.60 |
Net income per common share - diluted | $0.16 | ($0.19) | $0.33 | $0.21 | $0.25 | $0.28 | $0.21 | $0.22 | $0.52 | $0.96 | $1.58 |
Cardpoint Limited [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 938,962 | 883,350 | ' |
Business Acquisition, Pro Forma Net Income | ' | ' | ' | ' | ' | ' | ' | ' | $24,220 | $42,670 | ' |
Business Acquisition, Pro Forma Earnings Per Share, Basic | ' | ' | ' | ' | ' | ' | ' | ' | $0.53 | $0.95 | ' |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | $0.53 | $0.94 | ' |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
ShareBasedCompensationPlan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of stock incentive plans | 2 | ' | ' |
Stock incentive plan, vesting period | '4 years | ' | ' |
Number of options exercised | 270,749 | ' | ' |
Stock-based compensation expense | $12,324,000 | $11,110,000 | $9,324,000 |
Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock incentive plan, vesting period | '4 years | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $31.72 | $21.73 | $16.82 |
Stock-based compensation expense | 8,100,000 | 5,500,000 | 2,900,000 |
Unrecognized compensation expense | 8,600,000 | ' | ' |
Weighted-average period for recognition of compensation cost | '2 years 9 months 18 days | ' | ' |
Number of shares granted | 268,265 | ' | ' |
Total fair value of restricted stock vested | 7,100,000 | 0 | 0 |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock incentive plan, vesting period | '4 years | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $26.86 | $28.30 | $23.13 |
Stock-based compensation expense | 4,100,000 | 5,500,000 | 5,900,000 |
Unrecognized compensation expense | 3,500,000 | ' | ' |
Weighted-average period for recognition of compensation cost | '2 years 2 months 12 days | ' | ' |
Number of shares granted | 97,401 | ' | ' |
Total fair value of restricted stock vested | 8,100,000 | 15,100,000 | 11,500,000 |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | 100,000 | 100,000 | 500,000 |
Intrinsic value of options exercised | 6,700,000 | 12,900,000 | 15,100,000 |
Tax benefits from options exercised | 2,300,000 | 4,500,000 | 5,300,000 |
Cash received from option exercises | $2,600,000 | $7,300,000 | $11,400,000 |
Performance Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $27.43 | ' | ' |
Number of shares granted | 247,798 | ' | ' |
2007 Stock Inventive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of shares of common stock authorized under the plan | 5,179,393 | ' | ' |
Options granted, net of cancellation | 416,500 | ' | ' |
Restricted shares granted, net of cancellations | 4,102,458 | ' | ' |
Number of options exercised | 232,275 | ' | ' |
2001 Stock Inventive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Options granted, net of cancellation | 6,438,172 | ' | ' |
Number of options exercised | 6,099,962 | ' | ' |
Vesting Two Years From January 31 of Grant Year [Member] | Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock incentive plan, vesting period | '24 months | ' | ' |
Vesting percentage | 50.00% | ' | ' |
Vesting Three Years From January 31 of Grant Year [Member] | Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock incentive plan, vesting period | '36 months | ' | ' |
Vesting percentage | 25.00% | ' | ' |
Vesting Four Years From January 31 of Grant Year [Member] | Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock incentive plan, vesting period | '48 months | ' | ' |
Vesting percentage | 25.00% | ' | ' |
StockBased_Compensation_StockB
Stock-Based Compensation (Stock-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based Compensation | $12,324 | $11,110 | $9,324 |
Cost Of ATM Operating Revenues [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based Compensation | 911 | 930 | 903 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based Compensation | $11,413 | $10,180 | $8,421 |
StockBased_Compensation_StockB1
Stock-Based Compensation (Stock-Based Compensation, RSAs) (Details) (Restricted Stock Awards [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of Shares, Restricted Stock outstanding, Beginning Balance | 632,107 | ' | ' |
Weighted Average Grant Date Fair Value, Beginning Balance | $16.36 | ' | ' |
Number of Shares, Granted | 97,401 | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $26.86 | $28.30 | $23.13 |
Number of Shares, Vested | -282,138 | ' | ' |
Weighted Average Grant Date Fair Value, Vested | $15.18 | ' | ' |
Number of Shares, Forfeited | -71,872 | ' | ' |
Weighted Average Grant Date Fair Value, Forfeited | $24.30 | ' | ' |
Number of Shares, Restricted Stock outstanding, Ending Balance | 375,498 | 632,107 | ' |
Weighted Average Grant Date Fair Value, Ending Balance | $18.42 | $16.36 | ' |
StockBased_Compensation_StockB2
Stock-Based Compensation (Stock-Based Compensation, RSUs) (Details) (Restricted Stock Units [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of Shares, Restricted Stock outstanding, Beginning Balance | 749,948 | ' | ' |
Weighted Average Grant Date Fair Value, Beginning Balance | $20.01 | ' | ' |
Number of Shares, Granted | 268,265 | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $31.72 | $21.73 | $16.82 |
Number of Shares, Vested | -269,824 | ' | ' |
Weighted Average Grant Date Fair Value, Vested | $17.22 | ' | ' |
Number of Shares, Forfeited | -15,154 | ' | ' |
Weighted Average Grant Date Fair Value, Forfeited | $23.27 | ' | ' |
Number of Shares, Restricted Stock outstanding, Ending Balance | 733,235 | 749,948 | ' |
Weighted Average Grant Date Fair Value, Ending Balance | $25.26 | $20.01 | ' |
StockBased_Compensation_StockB3
Stock-Based Compensation (Stock-Based Compensation, Stock Options) (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Stock-Based Compensation [Abstract] | ' |
Number of Shares, Options outstanding, Beginning Balance | 552,799 |
Number of Shares, Exercised | -270,749 |
Number of Shares, Forfeited | -1,875 |
Number of Shares, Options outstanding, Ending Balance | 280,175 |
Number of Shares, Options vested and exercisable, Ending Balance | 274,425 |
Weighted Average Exercise Price, Options outstanding, Beginning Balance | $9.68 |
Weighted Average Exercise Price, Exercised | $9.70 |
Weighted Average Exercise Price, Forfeited | $11.05 |
Weighted Average Exercise Price, Options outstanding, Ending Balance | $9.66 |
Weighted Average Exercise Price, Options vested and exercisable, Ending Balance | $9.63 |
Aggregate Intrinsic Value, Options outstanding as of December 31, 2013 | $9,485 |
Aggregate Intrinsic Value, Options vested and exercisable as of December 31, 2013 | $9,298 |
Weighted Average Remaining Contractual Term, Options outstanding at December 31, 2013 | '2 years 9 months 4 days |
Weighted Average Remaining Contractual Term, Options vested and exercisable as of December 31, 2013 | '2 years 8 months 9 days |
StockBased_Compensation_StockB4
Stock-Based Compensation (Stock-Based Compensation, Non-Vested Stock Options) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Stock-Based Compensation [Abstract] | ' |
Number of Shares, Non-vested options outstanding, Beginning Balance | 34,625 |
Weighted Average Grant Date Fair Value, Non-vested options as of January 1, 2013 | $4.38 |
Number of Shares, Non-vested options vested | -27,000 |
Weighted Average Grant Date Fair Value, Vested | $4.05 |
Number of shares, non-vested options forfeited | -1,875 |
Weighted Average Grant Date Fair Value, Non-vested options forfeited | $5.62 |
Number of Shares, Non-vested options outstanding, Ending Balance | 5,750 |
Weighted Average Grant Date Fair Value, Non-vested options as of December 31, 2013 | $5.50 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive shares excluded from computation of diluted earnings per share | 516,127 | 630,537 | 501,331 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to controlling interests and available to common stockholders | $7,467 | ($8,408) | $15,327 | $9,430 | $11,201 | $12,897 | $9,664 | $9,829 | $23,816 | $43,591 | $70,233 |
Less: undistributed earnings allocated to unvested restricted shares | ' | ' | ' | ' | ' | ' | ' | ' | -672 | -1,497 | -2,626 |
Net income available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 23,144 | 42,094 | 67,607 |
Add: Undistributed earnings allocated to restricted shares, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 672 | 1,497 | 2,626 |
Less: Undistributed earnings reallocated to restricted shares | ' | ' | ' | ' | ' | ' | ' | ' | -669 | -1,483 | -2,586 |
Net income available to common stockholders and assumed conversions | ' | ' | ' | ' | ' | ' | ' | ' | $23,147 | $42,108 | $67,647 |
Weighted Average Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 44,371,313 | 43,469,175 | 42,201,491 |
Stock options added to the denominator under the treasury stock method | ' | ' | ' | ' | ' | ' | ' | ' | 206,322 | 406,157 | 685,289 |
Weighted Average Shares Outstanding, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 44,577,635 | 43,875,332 | 42,886,780 |
Net income per common share - basic | $0.16 | ($0.19) | $0.34 | $0.21 | $0.25 | $0.29 | $0.22 | $0.22 | $0.52 | $0.97 | $1.60 |
Net income per common share - diluted | $0.16 | ($0.19) | $0.33 | $0.21 | $0.25 | $0.28 | $0.21 | $0.22 | $0.52 | $0.96 | $1.58 |
Property_And_Equipment_Net_Nar
Property And Equipment, Net (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property And Equipment, Net [Abstract] | ' | ' |
Deployments in process | $12.70 | $7.10 |
Property_And_Equipment_Net_Sum
Property And Equipment, Net (Summary Of The Components Of Property And Equipment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property And Equipment, Net [Abstract] | ' | ' |
ATM equipment and related costs | $538,364 | $392,589 |
Technology assets | 53,271 | 36,326 |
Office furniture, fixtures, and other | 40,564 | 31,500 |
Total | 632,199 | 460,415 |
Less accumulated depreciation | -361,233 | -224,177 |
Net property and equipment | $270,966 | $236,238 |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Exclusive License Agreements [Member] | Exclusive License Agreements [Member] | Technology [Member] | U.S. [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |
Customer and Bank Branding Contracts / Relationships [Member] | Customer and Bank Branding Contracts / Relationships [Member] | Exclusive License Agreements [Member] | Non-Compete Agreements [Member] | Trade Name [Member] | Customer and Bank Branding Contracts / Relationships [Member] | Exclusive License Agreements [Member] | Non-Compete Agreements [Member] | Trade Name [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | '3 years | ' | '4 years | '2 years | '1 year | '1 year | '10 years | '10 years | '5 years | '15 years |
Exclusive License Agreement Expensed Through Cost of ATM Operating Revenues | $4 | $1.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional amortization expense | ' | ' | ' | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible_Assets_Schedule_Of_
Intangible Assets (Schedule Of Goodwill And Net Carrying Amount Of Intangible Assets With Indefinite Lives) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Trade Name [Member] | Trade Name [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | U.S. [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Other International [Member] | Other International [Member] | |||||||
Trade Name [Member] | Trade Name [Member] | Trade Name [Member] | Trade Name [Member] | |||||||||||||||
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill gross, beginning balance | $335,699 | $321,565 | ' | ' | $268,454 | $255,465 | ' | ' | $64,142 | [1] | $63,364 | [1] | ' | ' | $3,103 | [2] | $2,736 | [2] |
Accumulated impairment loss, beginning balance | -50,003 | -50,003 | ' | ' | ' | ' | ' | ' | -50,003 | [1] | -50,003 | [1] | ' | ' | ' | ' | ||
Goodwill net, beginning balance | 285,696 | 271,562 | ' | ' | 268,454 | 255,465 | ' | ' | 14,139 | [1] | 13,361 | [1] | ' | ' | 3,103 | [2] | 2,736 | [2] |
Acquisitions | 111,245 | 12,832 | ' | ' | 13,316 | 12,306 | ' | ' | 97,929 | [1] | 199 | [1] | ' | ' | ' | 327 | [2] | |
Purchase price adjustments | 170 | 685 | ' | ' | 29 | 683 | ' | ' | ' | ' | ' | ' | 141 | [2] | 2 | [2] | ||
Allocation adjustment | ' | ' | ' | ' | 6,640 | ' | ' | ' | -6,860 | [1] | ' | ' | ' | 220 | [2] | ' | ||
Foreign currency translation adjustments | 7,380 | 617 | ' | ' | ' | ' | ' | ' | 7,552 | [1] | 579 | [1] | ' | ' | -172 | [2] | 38 | [2] |
Goodwill gross, ending balance | 454,494 | 335,699 | ' | ' | 288,439 | 268,454 | ' | ' | 162,763 | [1] | 64,142 | [1] | ' | ' | 3,292 | [2] | 3,103 | [2] |
Accumulated impairment loss, ending balance | -50,003 | -50,003 | ' | ' | ' | ' | ' | ' | -50,003 | [1] | -50,003 | [1] | ' | ' | ' | ' | ||
Goodwill net, ending balance | 404,491 | 285,696 | ' | ' | 288,439 | 268,454 | ' | ' | 112,760 | [1] | 14,139 | [1] | ' | ' | 3,292 | [2] | 3,103 | [2] |
Indefinite lived intangible asset, Beginning balance | ' | ' | 3,431 | 3,298 | ' | ' | 200 | 200 | ' | ' | 3,231 | 3,098 | ' | ' | ||||
Acquisitions | ' | ' | 513 | ' | ' | ' | ' | ' | ' | ' | 513 | ' | ' | ' | ||||
Indefinite-lived Intangible Assets Reclassification to Definite-lived | ' | ' | -3,298 | ' | ' | ' | ' | ' | ' | ' | -3,298 | ' | ' | ' | ||||
Indefinite lived intangible asset, foreign currency translation adjustments | ' | ' | 114 | 133 | ' | ' | ' | ' | ' | ' | 114 | 133 | ' | ' | ||||
Indefinite lived intangible asset, Ending balance | ' | ' | $760 | $3,431 | ' | ' | $200 | $200 | ' | ' | $560 | $3,231 | ' | ' | ||||
[1] | The Europe segment is comprised of the Companybs operations in U.K. and Germany. | |||||||||||||||||
[2] | The Other International segment is comprised of the Companybs operations in Mexico and Canada. |
Intangible_Assets_Summary_Of_I
Intangible Assets (Summary Of Intangible Assets Subject To Amortization) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $334,398 | $243,224 |
Accumulated Amortization | -173,543 | -144,082 |
Net Carrying Amount | 160,855 | 99,142 |
Customer and Bank Branding Contracts / Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 276,140 | 212,509 |
Accumulated Amortization | -149,645 | -125,920 |
Net Carrying Amount | 126,495 | 86,589 |
Deferred Financing Costs [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 15,038 | 9,169 |
Accumulated Amortization | -5,466 | -4,373 |
Net Carrying Amount | 9,572 | 4,796 |
Exclusive License Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 23,154 | 18,724 |
Accumulated Amortization | -14,693 | -12,543 |
Net Carrying Amount | 8,461 | 6,181 |
Non-Compete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 4,075 | 2,822 |
Accumulated Amortization | -2,437 | -1,246 |
Net Carrying Amount | 1,638 | 1,576 |
Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,827 | ' |
Accumulated Amortization | -775 | ' |
Net Carrying Amount | 2,052 | ' |
Trade Name [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 13,164 | ' |
Accumulated Amortization | -527 | ' |
Net Carrying Amount | $12,637 | ' |
Recovered_Sheet4
Intangible Assets (Schedule of Acquired Intangible Assets) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' |
Acquired intangible assets, fair values | $76,803 |
Customer and Bank Branding Contracts / Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Acquired intangible assets, fair values | 62,800 |
Acquired intangible assets, useful Lives | '7 years |
Non-Compete Agreements [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Acquired intangible assets, fair values | 1,284 |
Acquired intangible assets, useful Lives | '2 years 6 months |
Technology [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Acquired intangible assets, fair values | 2,852 |
Acquired intangible assets, useful Lives | '3 years |
Trade Name [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Acquired intangible assets, fair values | $9,867 |
Acquired intangible assets, useful Lives | '14 years 9 months 18 days |
Intangible_Assets_Schedule_Of_1
Intangible Assets (Schedule Of Expected Amortization Expense) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Intangible Assets [Abstract] | ' | ' |
2014 | $34,695 | ' |
2015 | 32,205 | ' |
2016 | 26,835 | ' |
2017 | 22,519 | ' |
2018 | 17,050 | ' |
Thereafter | 27,551 | ' |
Net Carrying Amount | $160,855 | $99,142 |
Prepaid_Expenses_And_Other_Ass2
Prepaid Expenses And Other Assets (Narrative) (Details) (USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
Prepaid Expense And Other Assets [Abstract] | ' |
Insurance recovery receivable, Current | $13.40 |
Prepaid_Expenses_And_Other_Ass3
Prepaid Expenses And Other Assets (Schedule Of Prepaid Expenses, Deferred Costs, And Other Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Prepaid Expense And Other Assets [Abstract] | ' | ' |
Prepaid expense, Current | $12,412 | $11,349 |
Deferred costs and other current assets, Current | 7,747 | 19,631 |
Total, Current | 20,159 | 30,980 |
Prepaid expenses, Noncurrent | 1,553 | 224 |
Deferred costs, Noncurrent | 776 | 1,507 |
Other, Noncurrent | 350 | 437 |
Total, Noncurrent | $2,679 | $2,168 |
Accrued_Liabilities_Narrative_
Accrued Liabilities (Narrative) (Details) (U.K. [Member], USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
U.K. [Member] | ' |
Accrued Property Taxes | $14.70 |
Accrued_Liabilities_Schedule_o
Accrued Liabilities (Schedule of Accrued Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities [Abstract] | ' | ' |
Accrued merchant fees | $32,619 | $23,510 |
Accrued taxes | 23,033 | 1,794 |
Accrued merchant settlement amounts | 17,365 | 9,255 |
Accrued compensation | 12,501 | 9,524 |
Accrued interest expense | 6,140 | 5,753 |
Accrued armored fees | 5,271 | 4,628 |
Accrued maintenance fees | 5,186 | 4,865 |
Accrued cash rental and management fees | 4,570 | 4,067 |
Accrued purchases | 2,392 | 2,084 |
Accrued interest rate swap payments | 2,211 | 2,299 |
Accrued ATM telecommunications costs | 1,682 | 1,254 |
Accrued processing costs | 939 | 1,510 |
Other accrued expenses | 23,867 | 9,569 |
Total | $137,776 | $80,112 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 04, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 21, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Share data in Millions, except Per Share data, unless otherwise specified | USD ($) | USD ($) | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Letter Of Credit United Kindom Overdraft Facility [Member] | Letter Of Credit Canadian Processing Contract [Member] | Bank Machine Overdraft Facility [Member] | Bank Machine Overdraft Facility [Member] | Cardtronics Mexico Equipment Financing Agreements [Member] | Cardtronics Mexico Equipment Financing Agreements [Member] | Senior subordinated notes due September 2018 [Member] | Convertible senior notes due December 2020 [Member] | Convertible senior notes due December 2020 [Member] | Maximum [Member] | Maximum [Member] |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | MXN | USD ($) | USD ($) | USD ($) | Convertible senior notes due December 2020 [Member] | ||||
agreement | agreement | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current borrowing capacity under revolving credit facility | ' | ' | $375,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity under revolving credit facility | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination date | ' | ' | 15-Jul-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Swing line facility capacity | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sub-limit of revolving credit facility, foreign currency | ' | ' | 85,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sub-limit of revolving credit facility, letter of credit | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of stock in foreign subsidiaries used as collateral | ' | ' | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility outstanding | 72,547,000 | 152,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit posted | ' | ' | ' | ' | 2,000,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available borrowing capacity | ' | ' | 300,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 287,500,000 | ' | ' | ' |
Debt instrument original face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' |
8.25% Senior subordinated notes due September 2018 | 200,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' |
1.00% Convertible senior notes due December 2020 | 216,635,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 216,635,000 | 215,800,000 | ' | ' |
Debt Instrument, Convertible, Carrying Amount of the Equity Component | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71,700,000 | 71,700,000 | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Sep-18 | 1-Dec-20 | ' | ' | ' |
Debt instrument over allotment exercise period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '13 days | ' | ' | ' |
Debt instrument over allotment face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500,000 | ' | ' | ' |
Proceeds from Debt, net of issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 254,200,000 | ' | ' | ' |
Bank Overdraft Facility Capacity | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes stated interest percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.25% | 1.00% | ' | ' | ' |
Effective interest rate percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.26% | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $52.35 | ' | ' | ' |
Debt Instrument, Convertible, Conversion Ration per $1,000 Par Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.1022 | ' | ' | ' |
Notes par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' |
Debt Instrument, Convertible, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | ' | ' |
Debt Instrument, Convertible, Earliest date of conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Sep-20 | ' | ' | ' |
Debt Instrument, Convertible, Threshold percentage of stock price that triggers conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 135.00% | ' | ' | ' |
Debt Instrument Convertible Threshold Trading Days 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' |
Debt Instrument, Convertible, Threshold Consecutive Trading Days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' |
Debt Instrument, Convertible, Consecutive Trading Days Available for Conversion 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' |
Debt Instrument, Convertible, Threshold Consecutive Trading Days 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 days | ' | ' | ' |
Debt Instrument, Convertible, Threshold Percentage of Conversion 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.00% |
Debt Instrument, Convertible, Fundamental Change Minimum Percentage of Total Voting Power Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' |
Debt Instrument, Convertible, Percentage of Notes Par Value Paid Upon Change in Control | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' |
Warrant strike price | 73.29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares warrants may be converted to | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' |
Number of shares note hedges can call up to | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' |
Note hedge strike price | 52.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spread over bank rate | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' |
Bank's base rate | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | ' | ' | ' | ' | ' | ' | ' |
Other long-term debt term, in years | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' |
Number of five year equipment financing agreements with a single lender | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 4 | ' | ' | ' | ' | ' |
Average fixed rate of interest | ' | ' | ' | ' | ' | ' | ' | ' | 9.94% | 9.94% | ' | ' | ' | ' | ' |
Equipment financing notes | 1,332,000 | 2,819,000 | ' | ' | ' | ' | ' | ' | ' | 17,400,000 | ' | ' | ' | ' | ' |
Percentage of issued guarantees | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | 51.00% | ' | ' | ' | ' | ' |
Amount Of Guarantee Issued For Equipment Financing Agreement | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | 8,900,000 | ' | ' | ' | ' | ' |
Bank Overdrafts | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 21, 2013 |
In Thousands, unless otherwise specified | Senior subordinated notes due September 2018 [Member] | Convertible senior notes due December 2020 [Member] | Convertible senior notes due December 2020 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
8.25% Senior subordinated notes due September 2018 | $200,000 | $200,000 | $200,000 | ' | ' |
1.00% Convertible senior notes due December 2020 | 216,635 | ' | ' | 216,635 | 215,800 |
Revolving credit facility, including swing-line credit facility | 72,547 | 152,000 | ' | ' | ' |
Equipment financing notes | 1,332 | 2,819 | ' | ' | ' |
Total | 490,514 | 354,819 | ' | ' | ' |
Less: current portion | 1,289 | 1,467 | ' | ' | ' |
Total long-term debt, excluding current portion | $489,225 | $353,352 | ' | ' | ' |
Weighted-average combined rate | 2.50% | 2.20% | ' | ' | ' |
Notes stated interest percentage | ' | ' | 8.25% | 1.00% | ' |
LongTerm_Debt_Schedule_of_Inte
Long-Term Debt (Schedule of Interest Expense Related to Convertible Notes) (Details) (Convertible senior notes due December 2020 [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Convertible senior notes due December 2020 [Member] | ' |
Cash interest per contractual coupon rate | $288 |
Amortization of note discount | 848 |
Amortization of deferred financing costs | 48 |
Total interest expense related to Convertible Notes | $1,184 |
LongTerm_Debt_Schedule_of_Conv
Long-Term Debt (Schedule of Convertible Notes) (Details) (USD $) | Dec. 31, 2013 | Nov. 21, 2013 |
Debt Instrument [Line Items] | ' | ' |
Net carrying amount of Convertible Notes | $216,635,000 | ' |
Convertible senior notes due December 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal balance | 287,500,000 | ' |
Discount, net of accumulated amortization | -70,865,000 | ' |
Net carrying amount of Convertible Notes | $216,635,000 | $215,800,000 |
LongTerm_Debt_Schedule_Of_Matu
Long-Term Debt (Schedule Of Maturities Of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Long-Term Debt [Abstract] | ' |
2014 | $1,292 |
2015 | 40 |
2016 | 72,547 |
2017 | 0 |
2018 | 200,000 |
Thereafter | 287,500 |
Total maturities of long-term debt | $561,379 |
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Asset Retirement Obligations [Abstract] | ' |
Asset Retirement Obligation assets, useful life | '5 years |
Asset_Retirement_Obligations_C
Asset Retirement Obligations (Changes In Asset Retirement Obligation Liability) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Asset Retirement Obligations [Abstract] | ' | ' |
Asset retirement obligation as of beginning of period | $44,696 | $34,517 |
Additional obligations | 6,399 | 10,303 |
Estimated obligations assumed in Cardpoint acquisition | 18,494 | ' |
Accretion expense | 2,777 | 2,602 |
Change in estimates | -6,477 | ' |
Payments | -2,495 | -3,510 |
Foreign currency translation adjustments | 437 | 784 |
Asset retirement obligation as of end of period | 63,831 | 44,696 |
Asset retirement obligation, current | 3,166 | 2,834 |
Asset retirement obligation, excluding current portion | $60,665 | $41,862 |
Other_Liabilities_Schedule_Of_
Other Liabilities (Schedule Of Other Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities [Abstract] | ' | ' |
Interest rate swaps, Current | $31,069 | $23,117 |
Deferred revenue, Current | 1,315 | 835 |
Asset Retirement Obligation, Current | 3,166 | 2,834 |
Other, Current | 47 | 434 |
Total, Current | 35,597 | 27,220 |
Interest rate swaps, Noncurrent | 34,509 | 84,973 |
Obligations associated with acquired unfavorable contracts, Noncurrent | ' | 964 |
Deferred revenue, Noncurrent | 962 | 1,353 |
Other, Noncurrent | 3,265 | 5,831 |
Total, Noncurrent | $38,736 | $93,121 |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 21, 2013 | |
Parent [Member] | Convertible senior notes due December 2020 [Member] | Convertible senior notes due December 2020 [Member] | |||
Common stock, shares authorized | 125,000,000 | 125,000,000 | ' | ' | ' |
Common stock, shares outstanding | 44,375,952 | 44,641,224 | ' | ' | ' |
Preferred stock, share authorized | 10,000,000 | 10,000,000 | ' | ' | ' |
Preferred stock, shares outstanding | 0 | 0 | ' | ' | ' |
Debt Instrument, Convertible, Carrying Amount of the Equity Component | ' | ' | ' | $71,700,000 | $71,700,000 |
Purchase of convertible note hedges | 72,565,000 | ' | 72,565,000 | ' | ' |
Proceeds from issuance of warrants | 40,509,000 | ' | 40,509,000 | ' | ' |
Deferred financing cost allocated to equity | $1,671,000 | ' | ' | ' | ' |
Stockholders_Equity_Schedule_O
Stockholders' Equity (Schedule Of Accumulated Other Comprehensive Loss) (Details) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | |||
Accumulated other comprehensive loss, net, beginning balance | ($105,085) | ($83,902) | ($65,053) | ' | |||
Other comprehensive income (loss) before reclassification | 6,260 | -46,984 | -42,526 | ' | |||
Amounts reclassified from accumulated other comprehensive loss, net | 25,871 | 25,801 | 23,677 | ' | |||
Accumulated other comprehensive loss, net, ending balance | -72,954 | -105,085 | -83,902 | ' | |||
Accumulated other comprehensive loss, tax benefit | 10,829 | 27,413 | 12,602 | 1,383 | |||
Foreign currency translation adjustments [Member] | ' | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | |||
Accumulated other comprehensive loss, net, beginning balance | -24,634 | -27,135 | -26,569 | ' | |||
Other comprehensive income (loss) before reclassification | 6,198 | 2,501 | -566 | ' | |||
Accumulated other comprehensive loss, net, ending balance | -18,436 | -24,634 | -27,135 | ' | |||
Unrealized losses on interest rate swap contracts [Member] | ' | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | |||
Accumulated other comprehensive loss, net, beginning balance | -80,451 | [1] | -56,767 | [1] | -38,484 | [1] | ' |
Other comprehensive income (loss) before reclassification | 62 | [2] | -49,485 | [3] | -41,960 | [4] | ' |
Amounts reclassified from accumulated other comprehensive loss, net | 25,871 | [2] | 25,801 | [3] | 23,677 | [4] | ' |
Accumulated other comprehensive loss, net, ending balance | -54,518 | [1] | -80,451 | [1] | -56,767 | [1] | ' |
Other comprehensive loss before reclassification - interest rate swap contracts, tax expense (benefit) | 40 | -30,946 | -25,748 | ' | |||
Amounts reclassified from AOCI - interest rate swap contracts, tax expense | $16,544 | $16,135 | $14,529 | ' | |||
[1] | Net of deferred income tax benefit of $1,383 as of January 1, 2011, and $12,602, $27,413, and $10,829 as of December 31, 2011, 2012, and 2013, respectively. | ||||||
[2] | Net of deferred income tax expense of $40 for Other comprehensive income before reclassification and deferred income tax expense of $16,544 for Amounts reclassified from accumulated other comprehensive loss, net, respectively, for the year ended December 31, 2013. | ||||||
[3] | Net of deferred income tax benefit of $30,946 for Other comprehensive income before reclassification and deferred income tax expense of $16,135 for Amounts reclassified from accumulated other comprehensive loss, net, for the year ended December 31, 2012. | ||||||
[4] | Net of deferred income tax benefit of $25,748 for Other comprehensive income before reclassification and deferred income tax expense of $14,529 for Amounts reclassified from accumulated other comprehensive loss, net, for the year ended December 31, 2011. |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Benefits [Abstract] | ' | ' | ' |
Company matching contribution to defined contribution plans, percentage of employee contribution | 50.00% | ' | ' |
Company's matching contribution as percentage of employee salary, maximum | 4.00% | ' | ' |
Employee contribution to defined contribution plans, maximum percentage matched by employer | 2.00% | ' | ' |
Company's matching contribution vesting percentage, per year | 20.00% | ' | ' |
Company's contribution to defined contribution benefit plans | $0.70 | $0.60 | $0.40 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Derivative Financial Instruments [Abstract] | ' |
Reclassification of derivative-related losses into earnings during the next 12 months | $31.10 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Notional Amounts, Weighted-Average Fixed Rates, And Terms Associated With The Company's Interest Rate Swaps) (Details) (USD $) | Dec. 31, 2013 |
Derivative Remaining Term Year One [Member] | ' |
Derivative [Line Items] | ' |
Notional Amounts | $1,250,000,000 |
Weighted Average Fixed Rate | 2.98% |
Derivative Remaining Term Year Two [Member] | ' |
Derivative [Line Items] | ' |
Notional Amounts | 1,300,000,000 |
Weighted Average Fixed Rate | 2.84% |
Derivative Remaining Term Year Three [Member] | ' |
Derivative [Line Items] | ' |
Notional Amounts | 1,300,000,000 |
Weighted Average Fixed Rate | 2.74% |
Derivative Remaining Term Year Four [Member] | ' |
Derivative [Line Items] | ' |
Notional Amounts | 1,000,000,000 |
Weighted Average Fixed Rate | 2.53% |
Derivative Remaining Term Year Five [Member] | ' |
Derivative [Line Items] | ' |
Notional Amounts | $750,000,000 |
Weighted Average Fixed Rate | 2.54% |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Schedule Of Derivatives, Location In Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities, Current | $31,069 | $23,117 |
Derivative Liabilities, Noncurrent | 34,509 | 84,973 |
Interest Rate Swap Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Total | 65,578 | 108,090 |
Interest Rate Swap Contracts [Member] | Derivatives Designated As Hedging Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Total | 65,578 | 108,090 |
Interest Rate Swap Contracts [Member] | Derivatives Designated As Hedging Instruments [Member] | Current Portion Of Other Long-Term Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities, Current | 31,069 | 23,117 |
Interest Rate Swap Contracts [Member] | Derivatives Designated As Hedging Instruments [Member] | Other Long-Term Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities, Noncurrent | $34,509 | $84,973 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Effects Of The Derivative Contracts On Consolidated Statements Of Operations) (Details) (Derivatives In Cash Flow Hedging Relationships [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain(Loss) Recognized in OCI on Derivative Instruments (Effective Portion) | $62 | ($49,486) |
Cost Of ATM Operating Revenues [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) | ($25,871) | ($26,167) |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total additional asset retirement obligations incurred for the period | $24,900,000 | $10,300,000 | $8,700,000 |
Interest Rate Swap Contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Derivative Liabilities, Total | 65,578,000 | 108,090,000 | ' |
Interest Rate Swap Contracts [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Derivative Liabilities, Total | 65,578,000 | 108,090,000 | ' |
Senior subordinated notes due September 2018 [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of long term notes | 214,800,000 | ' | ' |
Convertible senior notes due December 2020 [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of long term notes | $288,500,000 | ' | ' |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Measurement Of Assets And Liabilities On A Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Acquisition-related contingent consideration | $575 | $3,455 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Acquisition-related contingent consideration | 575 | 3,455 |
Interest Rate Swap Contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities associated with interest rate swaps | 65,578 | 108,090 |
Interest Rate Swap Contracts [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Liabilities associated with interest rate swaps | $65,578 | $108,090 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2006 | Aug. 31, 2012 | Jan. 28, 2011 | |
item | item | item | ||||
lawsuit | ||||||
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Loss contingency patents allegedly infringed number | 7 | ' | ' | 6 | ' | ' |
Loss contingency patents found not infringed number | ' | ' | ' | 5 | ' | ' |
Number of patents rejected from the lawsuit on grounds of obviousness | ' | ' | ' | ' | ' | 1 |
Number of patents remaining from original lawsuit | 2 | ' | ' | ' | ' | ' |
Number of new lawsuits filed by plaintiff naming customers of entity as defendants | 2 | ' | ' | ' | ' | ' |
Number Of customers named as defendants | 2 | ' | ' | ' | ' | ' |
Number of lawsuits transferred to U.S. District Court | 8 | ' | ' | ' | ' | ' |
Number of child patents allegedly infringed | 12 | ' | ' | ' | ' | ' |
Fine, per month, per ATM, for terms of Settlement Agreement not met by deadline | ' | ' | ' | ' | $50 | ' |
Number of times Special Master met with his parties | 3 | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense, Net | 7,200,000 | 6,700,000 | 6,300,000 | ' | ' | ' |
Asset Retirement Obligation | 63,831,000 | 44,696,000 | 34,517,000 | ' | ' | ' |
Minimum service requirements [Member] | ' | ' | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Purchase commitment remaining period | '4 years | ' | ' | ' | ' | ' |
U.S. [Member] | ATM-related goods [Member] | ' | ' | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | 1,300,000 | ' | ' | ' | ' | ' |
U.S. [Member] | Minimum service requirements [Member] | ' | ' | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | 3,200,000 | ' | ' | ' | ' | ' |
Europe [Member] | ATM and equipment [Member] | ' | ' | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | $3,900,000 | ' | ' | ' | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Future Minimum Lease Payments Under Operating And Merchant Space Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies [Abstract] | ' |
2014 | $8,284 |
2015 | 6,098 |
2016 | 3,568 |
2017 | 2,739 |
2018 | 2,439 |
Thereafter | 3,721 |
Total minimum lease payments | $26,849 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 07, 2013 |
U.S. [Member] | U.K. [Member] | Mexico [Member] | Germany [Member] | Cardpoint Limited [Member] | Cardpoint Limited [Member] | |
entity | ||||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' |
Income tax expense associated with restructuring activities | ' | $13.80 | ' | ' | ' | ' |
Number of legal entities within an operating group | ' | ' | ' | ' | 10 | ' |
Net operating loss carryforward | 7.9 | 67.4 | 8.5 | 3 | ' | 60.5 |
Allowable Capital Allowances | ' | ' | ' | ' | ' | $72.40 |
Net operating loss carryforward expiration dates | 1-Jan-25 | ' | 1-Jan-16 | ' | ' | ' |
Income_Taxes_Components_Of_Inc
Income Taxes (Components Of Income Tax Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
U.S. federal, Current | $26,766 | $503 | ($86) |
State and local, Current | 5,503 | 812 | 1,774 |
Foreign, Current | 1,216 | ' | ' |
Total current | 33,485 | 1,315 | 1,688 |
U.S. federal, Deferred | 11,648 | 24,005 | -12,025 |
State and local, Deferred | -1,901 | 1,749 | -2,839 |
Foreign, Deferred | -1,214 | -60 | ' |
Total deferred | 8,533 | 25,694 | -14,864 |
Total income tax expense (benefit) | $42,018 | $27,009 | ($13,176) |
Income_Taxes_Computation_Of_In
Income Taxes (Computation Of Income Tax (Benefit) Expense By Applying U.S. Federal Statutory Tax Rate To Income (Loss) Before Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Income tax expense at the statutory rate of 35.0% | $21,932 | $24,595 | $19,940 |
Provision to return and deferred tax adjustments | -1,637 | 200 | -190 |
Change in federal and state effective tax rates | ' | ' | -780 |
State tax, net of federal benefit | 2,275 | 1,858 | 2,418 |
Permanent adjustments | -115 | 322 | 341 |
Foreign subsidiary tax rate differences | 1,252 | 120 | 139 |
Impact of entity restructuring | 15,501 | ' | -37,019 |
Foreign subsidiary change in statutory rate | ' | ' | 524 |
Other | -6 | 67 | 256 |
Subtotal | 39,202 | 27,162 | -14,371 |
Change in valuation allowance | 2,816 | -153 | 1,195 |
Total income tax expense (benefit) | $42,018 | $27,009 | ($13,176) |
U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Income_Taxes_Net_Current_and_N
Income Taxes (Net Current and Non-current Deferred Tax Assets and Liabilites By Segment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Line Items] | ' | ' |
Current deferred tax asset | $21,399 | $13,341 |
Valuation allowance | -158 | -86 |
Current deferred tax liability | -1,190 | -1,348 |
Non-current deferred tax asset | 59,846 | 72,933 |
Valuation allowance | -11,908 | -10,477 |
Non-current deferred tax liability | -43,928 | -36,170 |
Net deferred tax asset | 24,061 | 38,193 |
U.S. [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Current deferred tax asset | 17,652 | 12,839 |
Current deferred tax liability | -2 | -62 |
Net current deferred tax asset (liability) | 17,650 | 12,777 |
Non-current deferred tax asset | 31,414 | 55,704 |
Non-current deferred tax liability | -36,264 | -30,348 |
Net non-current deferred tax asset (liability) | -4,850 | 25,356 |
Net deferred tax asset | 12,800 | 38,133 |
Europe [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Current deferred tax asset | 3,576 | 107 |
Valuation allowance | -70 | -75 |
Current deferred tax liability | -1,188 | -1,286 |
Net current deferred tax asset (liability) | 2,318 | -1,254 |
Non-current deferred tax asset | 24,487 | 14,888 |
Valuation allowance | -9,900 | -10,233 |
Non-current deferred tax liability | -5,909 | -3,401 |
Net non-current deferred tax asset (liability) | 8,678 | 1,254 |
Net deferred tax asset | 10,996 | ' |
Other International [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Current deferred tax asset | 171 | 395 |
Valuation allowance | -88 | -11 |
Net current deferred tax asset (liability) | 83 | 384 |
Non-current deferred tax asset | 3,945 | 2,341 |
Valuation allowance | -2,008 | -244 |
Non-current deferred tax liability | -1,755 | -2,421 |
Net non-current deferred tax asset (liability) | 182 | -324 |
Net deferred tax asset | $265 | $60 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Assets And Deferred Tax Liabilities Arises Due To Temporary Differences) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Reserve for receivables, current | $258 | $218 |
Accrued liabilities and inventory reserves, current | 5,069 | 3,813 |
Net operating loss carryforward, current | 3,614 | 375 |
Unrealized losses on interest rate swap contracts, current | 12,197 | 8,677 |
Other, current | 261 | 258 |
Subtotal, current | 21,399 | 13,341 |
Valuation allowance | -158 | -86 |
Current deferred tax assets | 21,241 | 13,255 |
Net operating loss carryforward, non-current | 17,350 | 4,434 |
Unrealized loss on derivative instruments, non-current | 13,548 | 32,916 |
Stock-based compensation, non-current | 6,111 | 4,819 |
Asset retirement obligations, non-current | 2,434 | 4,963 |
Tangible and intangible assets, non-current | 15,970 | 24,065 |
Deferred revenue, non-current | 798 | 138 |
Other, non-current | 3,635 | 1,598 |
Subtotal, non-current | 59,846 | 72,933 |
Valuation allowance | -11,908 | -10,477 |
Non-current deferred tax assets | 47,938 | 62,456 |
Other, current | -1,190 | -1,348 |
Current deferred tax liabilities | -1,190 | -1,348 |
Tangible and intangible assets, non-current | -41,303 | -33,441 |
Asset retirement obligations, non-current | -2,625 | -2,729 |
Non-current deferred tax liability | -43,928 | -36,170 |
Net deferred tax asset | $24,061 | $38,193 |
Concentration_Risk_Details
Concentration Risk (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
In Billions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
ATM Purchase [Member] | ATM Purchase [Member] | U.S. [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Top Five Merchants [Member] | Top Five Merchants [Member] | Seven Eleven [Member] | Seven Eleven [Member] | Bank Of America [Member] | Wells Fargo [Member] | Santander [Member] | |||
Supplier Concentration Risk [Member] | Supplier Concentration Risk [Member] | Vault Cash [Member] | Vault Cash [Member] | Vault Cash [Member] | Unaudited Pro Forma Revenues [Member] | Unaudited Pro Forma Revenues [Member] | Unaudited Pro Forma Revenues [Member] | Unaudited Pro Forma Revenues [Member] | U.S. [Member] | U.S. [Member] | U.K. [Member] | |||||
Lender Concentration Risk [Member] | Lender Concentration Risk [Member] | Lender Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Vault Cash [Member] | Vault Cash [Member] | Vault Cash [Member] | |||||||
Lender Concentration Risk [Member] | Lender Concentration Risk [Member] | Lender Concentration Risk [Member] | ||||||||||||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk percentage | ' | ' | 63.50% | 70.30% | ' | ' | ' | ' | ' | 40.80% | 45.20% | 24.00% | 26.90% | 31.70% | 29.70% | ' |
Average Amount of Vault Cash | $2.70 | $2.20 | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vault cash agreement expiration date | ' | ' | ' | ' | ' | 'March 2014 | 'March 2014 | 'December 2016 | 'December 2016 | ' | ' | ' | ' | ' | ' | 'December 2014 |
Typical contract termination notification period | ' | ' | ' | ' | ' | ' | '180 days | ' | '360 days | ' | ' | ' | ' | ' | ' | ' |
Notice period to modify the pricing terms | ' | ' | ' | ' | ' | ' | '90 days | ' | '180 days | ' | ' | ' | ' | ' | ' | ' |
Segment_Information_Reconcilia
Segment Information (Reconciliation Of Adjusted Earnings Before Interest, Taxes, Depreciation And Amortization To Net Income Attributable To Controlling Interests) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Segment Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | $218,842 | $189,533 | $156,307 | ||
Loss (gain) on disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 2,790 | 1,787 | 981 | ||
Other expense (income) | ' | ' | ' | ' | ' | ' | ' | ' | -3,150 | -1,830 | -849 | ||
Noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -2,399 | -1,668 | -1,897 | ||
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 12,290 | 11,072 | 9,283 | ||
Acquisition-related expenses | ' | ' | ' | ' | ' | ' | ' | ' | 15,400 | 3,332 | 4,747 | ||
Other adjustments to cost of ATM operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 8,670 | [1] | ' | ' | |
Other adjustment to selling, general, and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 505 | [2] | 972 | [2] | ' |
EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 184,736 | 175,868 | 144,042 | ||
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 23,086 | 22,057 | 21,109 | ||
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 42,018 | 27,009 | -13,176 | ||
Depreciation and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | 68,480 | 61,499 | 47,962 | ||
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 27,336 | 21,712 | 17,914 | ||
Net income attributable to controlling interests and available to common stockholders | $7,467 | ($8,408) | $15,327 | $9,430 | $11,201 | $12,897 | $9,664 | $9,829 | $23,816 | $43,591 | $70,233 | ||
[1] | Adjustment to cost of ATM operating revenues for the year ended December 31, 2013 is related to the charge for retroactive property taxes on certain ATM locations in the U.K. | ||||||||||||
[2] | Adjustment to selling, general, and administrative expense for the years ended December 31, 2013 and 2012 represent severance related costs associated with management of the Companybs U.K. operations. |
Segment_Information_Financial_
Segment Information (Financial Information For Each Of The Company's Reporting Segments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue from external customers | $241,945 | $228,819 | $207,984 | $197,738 | $198,360 | $199,029 | $192,020 | $191,040 | $876,486 | $780,449 | $624,576 | |||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 595,287 | 536,087 | 420,115 | |||
Selling, general, and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 84,592 | 65,525 | 55,582 | |||
Acquisition-related expenses | ' | ' | ' | ' | ' | ' | ' | ' | 15,400 | 3,332 | 4,747 | |||
Loss (gain) on disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 2,790 | 1,787 | 981 | |||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 218,842 | 189,533 | 156,307 | |||
Depreciation and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | 68,480 | 61,499 | 47,962 | |||
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 27,336 | 21,712 | 17,914 | |||
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 23,086 | 22,057 | 21,109 | |||
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 42,018 | 27,009 | -13,176 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 77,153 | [1] | 92,803 | [1] | 66,886 | [1] |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intersegment revenues | ' | ' | ' | ' | ' | ' | ' | ' | -8,782 | -10,176 | -4,388 | |||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | -8,282 | -9,665 | -4,388 | |||
Selling, general, and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 429 | ' | |||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | -497 | -941 | ' | |||
Depreciation and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | -80 | 6 | -21 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -49 | [1] | -383 | [1] | ' | |
U.S. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 657,390 | 626,241 | 501,439 | |||
Intersegment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 8,319 | 10,087 | 4,277 | |||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 426,635 | 423,813 | 329,782 | |||
Selling, general, and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 67,890 | 54,635 | 47,342 | |||
Acquisition-related expenses | ' | ' | ' | ' | ' | ' | ' | ' | 8,036 | 3,207 | 4,747 | |||
Loss (gain) on disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,626 | 1,716 | 791 | |||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 183,498 | 168,915 | 137,840 | |||
Depreciation and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | 41,530 | 37,831 | 28,719 | |||
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 21,101 | 20,088 | 15,985 | |||
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 21,494 | 21,005 | 17,144 | |||
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 42,017 | 27,069 | -13,176 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 53,023 | [1] | 62,496 | [1] | 46,154 | [1] |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 178,448 | 117,814 | 97,665 | |||
Intersegment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 407 | ' | ' | |||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 140,812 | 93,030 | 75,109 | |||
Selling, general, and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 13,575 | 7,491 | 5,950 | |||
Acquisition-related expenses | ' | ' | ' | ' | ' | ' | ' | ' | 7,333 | 120 | ' | |||
Loss (gain) on disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | -123 | 61 | 215 | |||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 33,580 | 18,256 | 16,554 | |||
Depreciation and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | 22,448 | 19,894 | 16,194 | |||
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 5,541 | 1,437 | 1,892 | |||
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 1,262 | 647 | 3,260 | |||
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -190 | ' | ' | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 21,745 | [1] | 21,839 | [1] | 20,478 | [1] |
Other International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 40,648 | 36,394 | 25,472 | |||
Intersegment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 56 | 89 | 111 | |||
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 36,122 | 28,909 | 19,612 | |||
Selling, general, and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,127 | 2,970 | 2,290 | |||
Acquisition-related expenses | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 5 | ' | |||
Loss (gain) on disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,287 | 10 | -25 | |||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 2,261 | 3,303 | 1,913 | |||
Depreciation and accretion expense | ' | ' | ' | ' | ' | ' | ' | ' | 4,582 | 3,768 | 3,070 | |||
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | 694 | 187 | 37 | |||
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 330 | 405 | 705 | |||
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 191 | -60 | ' | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $2,434 | [1] | $8,851 | [1] | $254 | [1] |
[1] | Capital expenditure amounts include payments made for exclusive license agreements and site acquisition costs. Additionally, capital expenditure amounts for Mexico (included in the Other International segment) are reflected gross of any noncontrolling interest amounts. |
Segment_Information_Identifiab
Segment Information (Identifiable Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total Identifiable Assets | $1,056,203 | $768,892 | $712,801 |
Eliminations [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total Identifiable Assets | -243,263 | -84,178 | -62,560 |
U.S. [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total Identifiable Assets | 931,396 | 714,110 | 665,553 |
Europe [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total Identifiable Assets | 341,618 | 108,894 | 93,182 |
Other International [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total Identifiable Assets | $26,452 | $30,066 | $16,626 |
Supplemental_Guarantor_Financi2
Supplemental Guarantor Financial Information (Narrative) (Details) (U.S. [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
U.S. [Member] | ' |
Domestic subsidiaries ownership percentage | 100.00% |
Supplemental_Guarantor_Financi3
Supplemental Guarantor Financial Information (Condensed Consolidating Statements Of Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $241,945 | $228,819 | $207,984 | $197,738 | $198,360 | $199,029 | $192,020 | $191,040 | $876,486 | $780,449 | $624,576 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 793,885 | 689,942 | 547,301 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 82,601 | 90,507 | 77,275 |
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 23,086 | 22,057 | 21,109 |
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | -3,150 | -1,821 | -804 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 62,665 | 70,271 | 56,970 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 42,018 | 27,009 | -13,176 |
Net income (loss) | 5,716 | -8,982 | 14,765 | 9,148 | 10,934 | 12,706 | 9,579 | 10,043 | 20,647 | 43,262 | 70,146 |
Net (loss) income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -3,169 | -329 | -87 |
Net income attributable to controlling interests and available to common stockholders | 7,467 | -8,408 | 15,327 | 9,430 | 11,201 | 12,897 | 9,664 | 9,829 | 23,816 | 43,591 | 70,233 |
Other comprehensive income (loss), attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 32,096 | -21,292 | -18,630 |
Other comprehensive income (loss) attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 55,912 | 22,299 | 51,603 |
Elimination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -8,782 | -10,176 | -4,388 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | -8,362 | -9,230 | -4,409 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -420 | -946 | 21 |
Equity in (earnings) losses of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 81,375 | 71,102 | 39,849 |
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -557 | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -81,795 | -71,491 | -39,828 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -81,795 | -71,491 | -39,828 |
Net (loss) income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -3,169 | -329 | -87 |
Net income attributable to controlling interests and available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -78,626 | -71,162 | -39,741 |
Other comprehensive income (loss), attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -35 | -109 | 219 |
Other comprehensive income (loss) attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | -78,661 | -71,271 | -39,522 |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,583 | 11,366 | 9,604 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -12,583 | -11,366 | -9,604 |
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 10,357 | -541 | -940 |
Equity in (earnings) losses of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -87,874 | -78,992 | -47,421 |
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | 5,453 | 8 | -19,252 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 59,481 | 68,159 | 58,009 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 38,414 | 24,508 | -12,116 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 21,067 | 43,651 | 70,125 |
Net income attributable to controlling interests and available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 21,067 | 43,651 | 70,125 |
Other comprehensive income (loss), attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -11,151 | 14,536 | 10,687 |
Other comprehensive income (loss) attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 9,916 | 58,187 | 80,812 |
Guarantors [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 665,709 | 636,328 | 505,716 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 554,235 | 529,924 | 417,762 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 111,474 | 106,404 | 87,954 |
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 11,137 | 21,546 | 18,084 |
Equity in (earnings) losses of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 6,499 | 7,890 | 7,572 |
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | -3,519 | -4,529 | 15,714 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 97,357 | 81,497 | 46,584 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 3,603 | 2,561 | -1,060 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 93,754 | 78,936 | 47,644 |
Net income attributable to controlling interests and available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 93,754 | 78,936 | 47,644 |
Other comprehensive income (loss), attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 39,646 | -38,689 | -29,405 |
Other comprehensive income (loss) attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 133,400 | 40,247 | 18,239 |
Non-Guarantors [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 219,559 | 154,297 | 123,248 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 235,429 | 157,882 | 124,344 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -15,870 | -3,585 | -1,096 |
Interest expense, net, including amortization of deferred financing costs and note discount | ' | ' | ' | ' | ' | ' | ' | ' | 1,592 | 1,052 | 3,965 |
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | -5,084 | 3,257 | 2,734 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -12,378 | -7,894 | -7,795 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 1 | -60 | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -12,379 | -7,834 | -7,795 |
Net income attributable to controlling interests and available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -12,379 | -7,834 | -7,795 |
Other comprehensive income (loss), attributable to controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 3,636 | 2,970 | -131 |
Other comprehensive income (loss) attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | ($8,743) | ($4,864) | ($7,926) |
Supplemental_Guarantor_Financi4
Supplemental Guarantor Financial Information (Condensed Consolidating Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | $86,939 | $13,861 | $5,576 | $3,189 |
Accounts and notes receivable, net | 58,274 | 45,135 | ' | ' |
Current portion of deferred tax asset, net | 21,202 | 13,086 | ' | ' |
Other current assets | 40,357 | 43,667 | ' | ' |
Total current assets | 206,772 | 115,749 | ' | ' |
Property and equipment, net | 270,966 | 236,238 | ' | ' |
Intangible assets, net | 161,615 | 102,573 | ' | ' |
Goodwill | 404,491 | 285,696 | 271,562 | ' |
Deferred tax asset, net | 9,680 | 26,468 | ' | ' |
Prepaid expenses, deferred costs, and other noncurrent assets | 2,679 | 2,168 | ' | ' |
Total assets | 1,056,203 | 768,892 | 712,801 | ' |
Current portion of long-term debt and notes payable | 1,289 | 1,467 | ' | ' |
Current portion of other long-term liabilities | 35,597 | 27,220 | ' | ' |
Accounts payable and accrued liabilities | 176,757 | 101,705 | ' | ' |
Current portion of deferred tax liability, net | 1,152 | 1,179 | ' | ' |
Total current liabilities | 214,795 | 131,571 | ' | ' |
Long-term debt | 489,225 | 353,352 | ' | ' |
Asset retirement obligation, excluding current portion | 60,665 | 41,862 | ' | ' |
Deferred tax liability, net | 5,668 | 182 | ' | ' |
Other long-term liabilities | 38,736 | 93,121 | ' | ' |
Total liabilities | 809,089 | 620,088 | ' | ' |
Stockholders' equity | 247,114 | 148,804 | 113,145 | 44,254 |
Total liabilities and stockholders' equity | 1,056,203 | 768,892 | ' | ' |
Elimination [Member] | ' | ' | ' | ' |
Accounts and notes receivable, net | -134,432 | -60,905 | ' | ' |
Other current assets | -88 | -6 | ' | ' |
Total current assets | -134,520 | -60,911 | ' | ' |
Property and equipment, net | -431 | -500 | ' | ' |
Investments in and advances to subsidiaries | -691,303 | -309,716 | ' | ' |
Intercompany receivable | -194,855 | -252,226 | ' | ' |
Total assets | -1,021,109 | -623,353 | ' | ' |
Accounts payable and accrued liabilities | -134,029 | -60,905 | ' | ' |
Total current liabilities | -134,029 | -60,905 | ' | ' |
Intercompany payable | -247,726 | -305,097 | ' | ' |
Total liabilities | -381,755 | -366,002 | ' | ' |
Stockholders' equity | -639,354 | -257,351 | ' | ' |
Total liabilities and stockholders' equity | -1,021,109 | -623,353 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 412 | 5 | 1 | 81 |
Accounts and notes receivable, net | 130,835 | 56,722 | ' | ' |
Current portion of deferred tax asset, net | 15,735 | 11,683 | ' | ' |
Other current assets | 917 | 764 | ' | ' |
Total current assets | 147,899 | 69,174 | ' | ' |
Intangible assets, net | 9,466 | 4,684 | ' | ' |
Investments in and advances to subsidiaries | 445,318 | 209,668 | ' | ' |
Intercompany receivable | 150,890 | 204,098 | ' | ' |
Deferred tax asset, net | ' | 23,162 | ' | ' |
Total assets | 753,573 | 510,786 | ' | ' |
Accounts payable and accrued liabilities | 12,953 | 9,982 | ' | ' |
Total current liabilities | 12,953 | 9,982 | ' | ' |
Long-term debt | 489,182 | 352,000 | ' | ' |
Deferred tax liability, net | 4,324 | ' | ' | ' |
Total liabilities | 506,459 | 361,982 | ' | ' |
Stockholders' equity | 247,114 | 148,804 | ' | ' |
Total liabilities and stockholders' equity | 753,573 | 510,786 | ' | ' |
Guarantors [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 73,379 | 10,674 | 4,721 | 2,219 |
Accounts and notes receivable, net | 43,929 | 39,384 | ' | ' |
Current portion of deferred tax asset, net | 1,915 | 1,094 | ' | ' |
Other current assets | 11,580 | 28,116 | ' | ' |
Total current assets | 130,803 | 79,268 | ' | ' |
Property and equipment, net | 166,909 | 154,737 | ' | ' |
Intangible assets, net | 78,404 | 87,670 | ' | ' |
Goodwill | 288,439 | 268,454 | ' | ' |
Investments in and advances to subsidiaries | 245,985 | 100,048 | ' | ' |
Intercompany receivable | 43,965 | 48,128 | ' | ' |
Deferred tax asset, net | ' | 2,195 | ' | ' |
Prepaid expenses, deferred costs, and other noncurrent assets | 1,164 | 1,999 | ' | ' |
Total assets | 955,669 | 742,499 | ' | ' |
Current portion of other long-term liabilities | 34,009 | 25,658 | ' | ' |
Accounts payable and accrued liabilities | 213,128 | 122,501 | ' | ' |
Total current liabilities | 247,137 | 148,159 | ' | ' |
Long-term debt | 3 | 15 | ' | ' |
Intercompany payable | 148,306 | 250,827 | ' | ' |
Asset retirement obligation, excluding current portion | 21,517 | 19,176 | ' | ' |
Deferred tax liability, net | 526 | ' | ' | ' |
Other long-term liabilities | 38,681 | 92,966 | ' | ' |
Total liabilities | 456,170 | 511,143 | ' | ' |
Stockholders' equity | 499,499 | 231,356 | ' | ' |
Total liabilities and stockholders' equity | 955,669 | 742,499 | ' | ' |
Non-Guarantors [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 13,148 | 3,182 | 854 | 889 |
Accounts and notes receivable, net | 17,942 | 9,934 | ' | ' |
Current portion of deferred tax asset, net | 3,552 | 309 | ' | ' |
Other current assets | 27,948 | 14,793 | ' | ' |
Total current assets | 62,590 | 28,218 | ' | ' |
Property and equipment, net | 104,488 | 82,001 | ' | ' |
Intangible assets, net | 73,745 | 10,219 | ' | ' |
Goodwill | 116,052 | 17,242 | ' | ' |
Deferred tax asset, net | 9,680 | 1,111 | ' | ' |
Prepaid expenses, deferred costs, and other noncurrent assets | 1,515 | 169 | ' | ' |
Total assets | 368,070 | 138,960 | ' | ' |
Current portion of long-term debt and notes payable | 1,289 | 1,467 | ' | ' |
Current portion of other long-term liabilities | 1,588 | 1,562 | ' | ' |
Accounts payable and accrued liabilities | 84,705 | 30,127 | ' | ' |
Current portion of deferred tax liability, net | 1,152 | 1,179 | ' | ' |
Total current liabilities | 88,734 | 34,335 | ' | ' |
Long-term debt | 40 | 1,337 | ' | ' |
Intercompany payable | 99,420 | 54,270 | ' | ' |
Asset retirement obligation, excluding current portion | 39,148 | 22,686 | ' | ' |
Deferred tax liability, net | 818 | 182 | ' | ' |
Other long-term liabilities | 55 | 155 | ' | ' |
Total liabilities | 228,215 | 112,965 | ' | ' |
Stockholders' equity | 139,855 | 25,995 | ' | ' |
Total liabilities and stockholders' equity | $368,070 | $138,960 | ' | ' |
Supplemental_Guarantor_Financi5
Supplemental Guarantor Financial Information (Condensed Consolidating Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net cash (used in) provided by operating activities | $183,557 | $136,388 | $113,325 |
Additions to property and equipment | -71,562 | -89,579 | -64,418 |
Payments for exclusive license agreements, site acquisition costs and other intangible assets | -5,591 | -3,224 | -2,468 |
Acquisitions, net of cash acquired | -189,587 | -20,961 | -167,568 |
Net cash used in investing activities | -266,740 | -113,764 | -234,454 |
Proceeds from borrowing of long-term debt | 311,277 | 245,100 | 381,738 |
Repayments of long-term debt and capital leases | -397,667 | -261,596 | -264,991 |
Proceeds from issuance of convertible notes | 287,500 | ' | ' |
Proceeds from issuance of warrants | 40,509 | ' | ' |
Purchase of convertible note hedges | -72,565 | ' | ' |
Debt issuance and modification costs | -7,540 | ' | -655 |
Payment of contingent acquisition consideration | -750 | ' | ' |
Repayments of borrowings under bank overdraft facility, net | ' | -162 | -830 |
Proceeds from exercises of stock options | 2,626 | 7,344 | 11,420 |
Excess tax benefit from stock-based compensation expense | 24,007 | ' | ' |
Repurchase of capital stock | -32,409 | -4,770 | -3,150 |
Net cash provided by financing activities | 154,988 | -14,084 | 123,532 |
Effect of exchange rate changes on cash | 1,273 | -255 | -16 |
Net increase (decrease) in cash and cash equivalents | 73,078 | 8,285 | 2,387 |
Cash and cash equivalents as of beginning of period | 13,861 | 5,576 | 3,189 |
Cash and cash equivalents as of end of period | 86,939 | 13,861 | 5,576 |
Elimination [Member] | ' | ' | ' |
Net cash (used in) provided by operating activities | -49 | -383 | ' |
Intercompany fixed asset mark-up | 49 | 383 | ' |
Investment in subsidiary | 212,348 | ' | 100,048 |
Funding of intercompany notes payable | 338,366 | 221,672 | 316,231 |
Payments received on intercompany notes payable | -333,569 | -223,680 | -282,703 |
Net cash used in investing activities | 217,194 | -1,625 | 133,576 |
Proceeds from intercompany notes payable | -338,366 | -221,672 | -316,231 |
Repayments of intercompany notes payable | 333,569 | 223,680 | 282,703 |
Issuance of capital stock | -212,348 | ' | -100,048 |
Net cash provided by financing activities | -217,145 | 2,008 | -133,576 |
Parent [Member] | ' | ' | ' |
Net cash (used in) provided by operating activities | -39,202 | -2,375 | 2,496 |
Investment in subsidiary | -80,680 | ' | ' |
Funding of intercompany notes payable | -335,266 | -209,875 | -316,231 |
Payments received on intercompany notes payable | 298,303 | 223,680 | 189,040 |
Acquisitions, net of cash acquired | ' | ' | -2,800 |
Net cash used in investing activities | -117,643 | 13,805 | -129,991 |
Proceeds from borrowing of long-term debt | 311,277 | 245,100 | 381,738 |
Repayments of long-term debt and capital leases | -396,153 | -259,100 | -261,938 |
Proceeds from issuance of convertible notes | 287,500 | ' | ' |
Proceeds from issuance of warrants | 40,509 | ' | ' |
Purchase of convertible note hedges | -72,565 | ' | ' |
Debt issuance and modification costs | -7,540 | ' | -655 |
Proceeds from exercises of stock options | 2,626 | 7,344 | 11,420 |
Excess tax benefit from stock-based compensation expense | 24,007 | ' | ' |
Repurchase of capital stock | -32,409 | -4,770 | -3,150 |
Net cash provided by financing activities | 157,252 | -11,426 | 127,415 |
Net increase (decrease) in cash and cash equivalents | 407 | 4 | -80 |
Cash and cash equivalents as of beginning of period | 5 | 1 | 81 |
Cash and cash equivalents as of end of period | 412 | 5 | 1 |
Guarantors [Member] | ' | ' | ' |
Net cash (used in) provided by operating activities | 193,206 | 116,424 | 100,460 |
Additions to property and equipment | -50,414 | -60,932 | -45,640 |
Payments for exclusive license agreements, site acquisition costs and other intangible assets | -2,609 | -1,564 | -514 |
Investment in subsidiary | -131,668 | ' | -100,048 |
Funding of intercompany notes payable | -3,100 | -11,797 | ' |
Payments received on intercompany notes payable | 35,266 | ' | 93,663 |
Acquisitions, net of cash acquired | -19,997 | -17,661 | -164,811 |
Net cash used in investing activities | -172,522 | -91,954 | -217,350 |
Repayments of long-term debt and capital leases | -11 | -11 | -3 |
Proceeds from intercompany notes payable | 168,604 | 205,174 | 308,294 |
Repayments of intercompany notes payable | -206,775 | -223,680 | -188,899 |
Payment of contingent acquisition consideration | -750 | ' | ' |
Issuance of capital stock | 80,953 | ' | ' |
Net cash provided by financing activities | 42,021 | -18,517 | 119,392 |
Net increase (decrease) in cash and cash equivalents | 62,705 | 5,953 | 2,502 |
Cash and cash equivalents as of beginning of period | 10,674 | 4,721 | 2,219 |
Cash and cash equivalents as of end of period | 73,379 | 10,674 | 4,721 |
Non-Guarantors [Member] | ' | ' | ' |
Net cash (used in) provided by operating activities | 29,602 | 22,722 | 10,369 |
Additions to property and equipment | -21,148 | -28,647 | -18,778 |
Payments for exclusive license agreements, site acquisition costs and other intangible assets | -2,982 | -1,660 | -1,954 |
Intercompany fixed asset mark-up | -49 | -383 | ' |
Acquisitions, net of cash acquired | -169,590 | -3,300 | 43 |
Net cash used in investing activities | -193,769 | -33,990 | -20,689 |
Repayments of long-term debt and capital leases | -1,503 | -2,485 | -3,050 |
Proceeds from intercompany notes payable | 169,762 | 16,498 | 7,937 |
Repayments of intercompany notes payable | -126,794 | ' | -93,804 |
Repayments of borrowings under bank overdraft facility, net | ' | -162 | -830 |
Issuance of capital stock | 131,395 | ' | 100,048 |
Net cash provided by financing activities | 172,860 | 13,851 | 10,301 |
Effect of exchange rate changes on cash | 1,273 | -255 | -16 |
Net increase (decrease) in cash and cash equivalents | 9,966 | 2,328 | -35 |
Cash and cash equivalents as of beginning of period | 3,182 | 854 | 889 |
Cash and cash equivalents as of end of period | $13,148 | $3,182 | $854 |
Supplemental_Selected_Quarterl2
Supplemental Selected Quarterly Financial Information (Schedule Of Supplemental Selected Quarterly Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||
Supplemental Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Total revenues | $241,945 | $228,819 | $207,984 | $197,738 | $198,360 | $199,029 | $192,020 | $191,040 | $876,486 | $780,449 | $624,576 | ||||||||||
Gross profit | 78,326 | [1] | 68,550 | [1] | 70,274 | [1] | 64,049 | [1] | 64,510 | [2] | 62,300 | [2] | 58,920 | [2] | 58,632 | [2] | 281,199 | [1] | 244,362 | [2] | 204,461 |
Net income (loss) | 5,716 | -8,982 | 14,765 | 9,148 | 10,934 | 12,706 | 9,579 | 10,043 | 20,647 | 43,262 | 70,146 | ||||||||||
Net income (loss) attributable to controlling interests and available to common stockholders | 7,467 | -8,408 | 15,327 | 9,430 | 11,201 | 12,897 | 9,664 | 9,829 | 23,816 | 43,591 | 70,233 | ||||||||||
Basic net income (loss) per common share | $0.16 | ($0.19) | $0.34 | $0.21 | $0.25 | $0.29 | $0.22 | $0.22 | $0.52 | $0.97 | $1.60 | ||||||||||
Diluted net income (loss) per common share | $0.16 | ($0.19) | $0.33 | $0.21 | $0.25 | $0.28 | $0.21 | $0.22 | $0.52 | $0.96 | $1.58 | ||||||||||
Depreciation, accretion, and amortization expense | $24,500 | $22,800 | $19,900 | $20,000 | $20,000 | $19,100 | $18,200 | $17,400 | $87,177 | $74,740 | $59,278 | ||||||||||
[1] | Excludes $20.0 million, $19.9 million, $22.8 million and $24.5B million of depreciation, accretion, and amortization for the quarters ended MarchB 31, JuneB 30, SeptemberB 30, and DecemberB 31, respectively. | ||||||||||||||||||||
[2] | Excludes $17.4 million, $18.2 million, $19.1 million and $20.0B million of depreciation, accretion, and amortization for the quarters ended MarchB 31, JuneB 30, SeptemberB 30, and DecemberB 31, respectively. |