WEX (WEX) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	WEX Inc.
Trading Symbol	WEX
Entity Central Index Key	1,309,108
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		42,891,269

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 203,995	$ 190,930
Accounts receivable (less reserve for credit losses of $23,566 in 2017 and $20,092 in 2016)	2,246,815	2,054,701
Securitized accounts receivable, restricted	101,185	97,417
Income taxes receivable	9,792	10,765
Available-for-sale securities	23,413	23,525
Property, equipment and capitalized software (net of accumulated depreciation of $240,160 in 2017 and $228,336 in 2016)	171,254	167,278
Deferred income taxes, net	7,042	6,934
Goodwill	1,840,844	1,838,441
Other intangible assets, net	1,228,670	1,265,468
Other assets	342,752	341,638
Total assets	6,175,762	5,997,097
Liabilities and Stockholders’ Equity
Accounts payable	674,114	617,118
Accrued expenses	290,808	331,579
Deposits	1,040,675	1,118,823
Securitized debt	92,676	84,323
Revolving line of credit facilities and term loans, net	1,795,640	1,599,291
Deferred income taxes, net	163,465	152,906
Notes outstanding, net	395,718	395,534
Other debt	107,699	125,755
Amounts due under tax receivable agreement	47,302	47,302
Other liabilities	18,447	18,719
Total liabilities	4,626,544	4,491,350
Commitments and contingencies (Note 13)
Stockholders’ Equity
Common stock $0.01 par value; 175,000 shares authorized; 47,327 shares issued in 2017 and 47,173 in 2016; 42,899 shares outstanding in 2017 and 42,841 in 2016	473	472
Additional paid-in capital	545,135	547,627
Non-controlling interest	8,275	8,558
Retained earnings	1,273,935	1,244,271
Accumulated other comprehensive loss	(106,258)	(122,839)
Treasury stock at cost; 4,428 shares in 2017 and 2016	(172,342)	(172,342)
Total stockholders’ equity	1,549,218	1,505,747
Total liabilities and stockholders’ equity	$ 6,175,762	$ 5,997,097

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, reserve for credit losses	$ 23,566	$ 20,092
Property, equipment and capitalized software, accumulated depreciation	$ 240,160	$ 228,336
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	175,000,000	175,000,000
Common stock, shares issued (in shares)	47,327,000	47,173,000
Common stock, shares outstanding (in shares)	42,899,000	42,841,000
Treasury stock, shares (in shares)	4,428,000	4,428,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Payment processing revenue	$ 136,378	$ 111,057
Account servicing revenue	61,539	44,522
Finance fee revenue	43,372	23,506
Other revenue	50,068	26,843
Total revenues	291,357	205,928
Expenses
Salary and other personnel	83,585	63,410
Restructuring	484	1,589
Service fees	36,750	36,759
Provision for credit losses	12,231	3,917
Technology leasing and support	12,516	11,076
Occupancy and equipment	6,367	5,712
Depreciation and amortization	49,238	22,264
Operating interest expense	4,848	1,386
Cost of hardware and equipment sold	1,029	905
Other expenses	23,557	17,783
Total operating expenses	230,605	164,801
Operating income	60,752	41,127
Financing interest expense	(27,148)	(21,558)
Net foreign currency gain	8,442	16,124
Net unrealized gains on interest rate swap agreements	1,565	0
Net realized and unrealized gain on fuel price derivatives	0	711
Income before income taxes	43,611	36,404
Income taxes	14,535	13,183
Net income	29,076	23,221
Less: Net (loss) gain from non-controlling interest	(325)	135
Net earnings attributable to shareholders	$ 29,401	$ 23,086
Net earnings attributable to WEX Inc. per share:
Basic (in dollars per share)	$ 0.69	$ 0.60
Diluted (in dollars per share)	$ 0.68	$ 0.59
Weighted average common shares outstanding:
Basic (in shares)	42,871	38,756
Diluted (in shares)	43,119	38,850

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 29,076	$ 23,221
Changes in available-for-sale securities, net of tax expense of $1 and $97, respectively	3	164
Foreign currency translation	16,620	10,774
Comprehensive income	45,699	34,159
Less: Comprehensive (loss) income attributable to non-controlling interest	(283)	591
Comprehensive income attributable to WEX Inc.	$ 45,982	$ 33,568

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Changes in available-for-sale securities, tax effect	$ 1	$ 97

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands		Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Treasury Stock	Retained Earnings	Non-Controlling Interest
Beginning Balance (in shares) at Dec. 31, 2015			38,746
Beginning balance at Dec. 31, 2015		$ 1,095,681	$ 431	$ 174,972	$ (103,451)	$ (172,342)	$ 1,183,634	$ 12,437
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued upon exercise of stock options (in shares)			1
Stock issued upon exercise of stock options		5		5
Tax expense from stock option and restricted stock units		(578)		(578)
Stock issued upon vesting of restricted and deferred stock units (in shares)			54
Stock issued upon vesting of restricted and deferred stock units		0
Stock-based compensation, net of share repurchases for tax withholdings		2,056		2,056
Changes in available-for-sale securities, net of tax expense of $1 and $97, respectively		164			164
Foreign currency translation		10,774			10,318			456
Net income		23,221					23,086	135
Ending Balance (in shares) at Mar. 31, 2016			38,801
Ending balance at Mar. 31, 2016		1,131,323	$ 431	176,455	(92,969)	(172,342)	1,206,720	13,028
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment	[1]	263					263
Beginning Balance (in shares) at Dec. 31, 2016			42,841
Beginning balance at Dec. 31, 2016		1,505,747	$ 472	547,627	(122,839)	(172,342)	1,244,271	8,558
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued upon exercise of stock options (in shares)			5
Stock issued upon exercise of stock options		72		72
Stock issued upon vesting of restricted and deferred stock units (in shares)			53
Stock issued upon vesting of restricted and deferred stock units		0	$ 1	(1)
Stock-based compensation, net of share repurchases for tax withholdings		(2,563)		(2,563)
Changes in available-for-sale securities, net of tax expense of $1 and $97, respectively		3			3
Foreign currency translation		16,620			16,578			42
Net income		29,076					29,401	(325)
Ending Balance (in shares) at Mar. 31, 2017			42,899
Ending balance at Mar. 31, 2017		$ 1,549,218	$ 473	$ 545,135	$ (106,258)	$ (172,342)	$ 1,273,935	$ 8,275
[1]	1Modified retrospective transition for ASU 2016-09 to recognize previously disallowed excess tax benefits that increased a net operating loss.

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Stockholders' Equity [Abstract]
Changes in available-for-sale securities, tax effect	$ 1	$ 97

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income	$ 29,076	$ 23,221
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Net unrealized gain	(2,991)	(11,437)
Stock-based compensation	6,457	4,243
Depreciation and amortization	49,238	22,264
Debt issuance cost amortization	1,954	772
Provision for deferred taxes	10,517	12,644
Provision for credit losses	12,231	3,917
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	(194,859)	(49,711)
Other assets	741	12,808
Accounts payable	60,650	68,561
Accrued expenses	(32,547)	10,685
Income taxes	685	(10,818)
Other liabilities	(331)	(734)
Net cash (used for) provided by operating activities	(59,179)	86,415
Cash flows from investing activities
Purchases of property, equipment and capitalized software	(21,693)	(20,494)
Purchases of available-for-sale securities	(114)	(489)
Maturities of available-for-sale securities	229	135
Net cash used for investing activities	(21,578)	(20,848)
Cash flows from financing activities
Repurchase of share-based awards to satisfy tax withholdings	(9,020)	(2,187)
Proceeds from stock option exercises	72	6
Net change in deposits	(78,392)	170,604
Net activity on other debt	(19,010)	0
Net borrowings on revolving line of credit facility	202,580	15,056
Repayments on term loans	(8,688)	(6,875)
Net change in securitized debt	3,354	(10,469)
Net cash provided by financing activities	90,896	166,135
Effect of exchange rate changes on cash and cash equivalents	2,926	3,631
Net change in cash and cash equivalents	13,065	235,333
Cash and cash equivalents, beginning of period	190,930	279,989
Cash and cash equivalents, end of period	$ 203,995	$ 515,322

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by GAAP for complete financial statements. However, except as disclosed herein, there have been no material changes to the information disclosed in the notes to the consolidated financial statements included in the Annual Report on Form 10-K of WEX Inc. for the year ended December 31, 2016 . These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements that are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 , filed with the SEC on March 6, 2017 . In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results for any future periods or the year ending December 31, 2017 . The Company rounds amounts in the unaudited condensed consolidated financial statements to thousands and calculates all per-share data from underlying whole-dollar amounts. Thus, certain amounts may not recalculate based on reported numbers due to rounding. The presentation of the accompanying unaudited condensed consolidated statements of income for the three months ended March 31, 2016 has been updated to disaggregate revenue into payment processing, account servicing, finance fee and other revenue in order to provide additional information regarding the Company’s significant revenue streams and to conform to the current year presentation. There was no change to total revenue, income from operations, net income or net income per share as a result of this updated presentation. Effective January 1, 2017, the Company adopted ASU 2016-09, which simplifies several aspects of accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, statutory tax withholding requirements, and classification in the statement of cash flows. Prior to the adoption of this guidance, the Company recognized the net excess tax benefits of vested or settled awards in additional paid-in capital. This standard requires prospective recognition of all the tax effects related to share-based payments in the income statement. The impact of adoption was recorded as a $263 cumulative effect adjustment to Retained earnings. For the three months ended March 31, 2017, the Company recognized $1,600 of excess tax benefits within our income tax provision, which would have been recognized in additional paid-in-capital under previous guidance. See Note 12 , Income Taxes, for the resulting impact on our effective tax rate. The Company has elected to prospectively classify these excess tax benefits as cash flows from operating activities for the three months ended March 31, 2017. The Company will continue to estimate the number of awards expected to vest, rather than electing to account for forfeitures as they occur. Adoption of this standard is not anticipated to impact the Company's minimum statutory tax withholding practices.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	2. New Accounting Standards In March 2017, the FASB issued ASU 2017-07, which changes the presentation of net benefit pension costs by requiring the disaggregation of certain of its components. Under the guidance, companies are required to present the service cost component in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost will be presented in the income statement separately from the service cost component and outside the subtotal of operating income, if one is presented. Additionally, only the service cost component will be eligible for capitalization under the new guidance. The standard is effective for annual or interim periods beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual period for which financial statements, interim or annual, have not been issued or made available for issuance. The Company does not believe this standard will have a material impact on the consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU 2014-09 ("Topic 606"), which will supersede most existing revenue recognition guidance under GAAP. The new revenue recognition standard requires entities to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Topic 606 does not apply to rights or obligations associated with financial instruments (e.g. interest income), including the Company’s finance fee and interest income from banking relationships and cardholders. As such, approximately 14 percent of consolidated revenues for the period ended December 31, 2016 will not be impacted by Topic 606. The Company’s revenue from discount and interchange, transaction processing and certain fees is within the scope of Topic 606. FASB and its Transition Resource Group have issued clarifications on various aspects of ASU 2014-09. Those clarifications, along with the guidance under Topic 606 support the conclusion that timing and measurement of revenue associated with the Company’s transaction processing services, including discount and interchange and other transaction processing fees, or approximately 48 percent of consolidated revenues for the period ended December 31, 2016, will remain substantially unchanged under the new standard. The Company is in the process of assessing the remaining revenue streams that fall within the scope of this new standard. Included in this assessment is confirming principal vs. agent determinations, reviewing commission structure and applying the series guidance to the Company's revenue streams. Under the new guidance certain costs to obtain a contract, such as sales commissions are to be capitalized and amortized over the life of the contract, with a practical expedient available for contracts under one year in duration. Sales commissions that were expensed were approximately $5,400 for the period ended March 31, 2017. On July 9, 2015, the FASB voted to defer the effective date by one year to interim and annual reporting periods beginning after December 15, 2017, and permitted early adoption of the standard, but not for periods beginning on or before the original effective date of January 1, 2017. The Company is not electing early adoption and as a result the standard will become effective on January 1, 2018. The guidance permits two methods of adoption: full retrospective approach, which requires an entity to restate each prior period that is reported in the financial statements and modified retrospective approach, which requires a cumulative adjustment to retained earnings as of the effective date, without restatement of prior period amounts. The Company currently anticipates adopting the standard using the modified retrospective method.

Business Acquisition

Business Acquisition	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Business Acquisition	3. Business Acquisition EFS On July 1, 2016, the Company acquired all of the outstanding membership interests of EFS, a provider of customized payment solutions for fleet and corporate customers with a focus on the large and mid-sized over-the-road fleets. The acquisition will enable the Company to expand its customer footprint and to utilize EFS' technology to better serve the needs of all fleet customers. In consideration for the acquisition of EFS, the Company issued 4,012 shares of its common stock valued at approximately $355,000 based on the July 1, 2016 closing price of the Company's common stock on the New York Stock Exchange. This represented approximately 9.4 percent of the Company's outstanding common stock after giving effect to the issuance of the new shares in connection with this acquisition. The cash consideration for the transaction totaled approximately $1,182,000 , and was funded with amounts received under the 2016 Credit Agreement described further in Note 7, Financing and Other Debt. The value of the total cash and stock consideration paid for the acquisition of EFS was approximately $1,444,000 , net of $93,000 in cash acquired. The Company records adjustments to the assets acquired and liabilities assumed throughout the measurement period, which may be up to one year from the acquisition date. The Company has obtained information to assist in determining the fair values of certain assets acquired and liabilities assumed throughout this period, resulting in the recording of other intangible assets and goodwill as described below. Goodwill is calculated as the consideration in excess of net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized, including synergies derived from the acquisition. The tax structure of EFS consists of limited liability companies and corporations. The Company’s tax election will allow a step-up in tax basis related to its 49.5 percent direct ownership in the parent limited liability company. The remaining 50.5 percent ownership in the parent limited liability company is held by another limited liability company, taxed as a corporation, that is part of the EFS structure and will therefore receive carry over tax basis. The difference between book and tax basis resulting from receiving carry over tax basis has been reflected in the financial statements as an investment in partnership deferred tax liability. The Company is currently evaluating the tax basis and the allocation of book basis to the assets acquired and liabilities assumed in this business combination. In addition, the Company is still reviewing the valuation as well as performing procedures to verify the completeness and accuracy of the data used in the independent valuation for intangible assets identified in the table below. Although not expected, the preliminary estimates could change significantly upon completion of this evaluation. The Company has not finalized the purchase accounting and estimates approximately $591,000 of the goodwill recognized in this business combination will be deductible for income tax purposes. The following represents the components and preliminary allocation of the purchase price: As Reported December 31, 2016 Measurement Period Adjustments As Reported March 31, 2017 Total consideration, net of cash acquired $ 1,444,235 $ — $ 1,444,235 Less: Accounts receivable 162,684 — 162,684 Property and equipment 2,387 1 2,388 Customer relationships (a)(b) 842,700 (1,300 ) 841,400 Developed technologies (a)(c) 32,120 — 32,120 Trademarks and trade names (a)(d) 13,700 — 13,700 Deferred income tax assets 34,992 — 34,992 Accounts payable (153,777 ) 248 (153,529 ) Accrued expenses (128,267 ) 9,146 (119,121 ) Deferred income tax liabilities (91,194 ) — (91,194 ) Recorded goodwill (a) $ 728,890 $ (8,095 ) $ 720,795 (a) Approximately $1,262,367 in goodwill and other intangible assets recorded from this business combination were preliminarily allocated to our Fleet Solutions segment; the remaining $345,648 was preliminarily allocated to our Travel and Corporate Solutions segment. (b) Weighted average life – 8.1 years . (c) Weighted average life – 2.0 years . (d) Weighted average life – 7.7 years . At March 31, 2017, estimated amortization expense related to the definite-lived intangible assets listed above for each of the next five fiscal years and thereafter is as follows: Remaining 2017 $ 64,032 2018 $ 80,987 2019 $ 74,548 2020 $ 68,685 2021 $ 60,654 2022 $ 53,537 Thereafter $ 427,408 The pro forma financial information presented below includes the effects of the EFS acquisition as if it had been consummated on January 1, 2015. These pro forma results have been calculated after applying our accounting policies and adjusting results to reflect the intangible amortization and interest expense associated with the 2016 Credit Agreement used to fund the acquisition and related income tax results assuming they were applied and incurred since January 1, 2015. As a result, $4,765 in transaction costs which are directly attributable to the acquisition have been excluded from pro forma results for the three months ended March 31, 2016. The pro forma results of operations do not include any cost savings or other synergies that may result from the acquisition or any estimated integration costs that have been or will be incurred by the Company. Accordingly, the following pro forma information is not necessarily indicative of either the future results of operations or results that would have been achieved if the acquisition had taken place at the beginning of 2015. The operations of EFS contributed revenues of approximately $43,375 and net loss before taxes of approximately $11,203 to the Company's unaudited condensed consolidated income statement for the three months ended March 31, 2017. The following represents unaudited pro forma operational results as if the acquisition had occurred January 1, 2015: Three Months Ended March 31, 2016 Total revenues $ 240,297 Net earnings attributable to shareholders $ 18,333 Pro forma net income attributable to shareholders per common share: Basic $ 0.43 Diluted $ 0.43

Reserves for Credit Losses

Reserves for Credit Losses	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Reserves for Credit Losses	4. Reserves for Credit Losses In general, the Company’s trade receivables provide for payment terms of 30 days or less. Receivables not paid within the terms of the customer agreement are generally subject to late fees based upon the outstanding customer receivable balance. The Company extends revolving credit to certain small fleet customers. These accounts are also subject to late fees and balances that are not paid in full are subject to interest charges based on the revolving balance. The Company had approximately $5,800 and $3,400 in receivables with revolving credit balances as of March 31, 2017 and December 31, 2016 , respectively. The portfolio of receivables consists of a large group of homogeneous smaller balance amounts that are collectively evaluated for impairment. Receivables are generally written off when they are 150 days past due or upon declaration of bankruptcy by the customer. The reserve for credit losses is calculated by an analytic model that also takes into account other factors, such as the actual charge-offs for the preceding reporting periods, expected charge-offs and recoveries for the subsequent reporting periods, a review of past due accounts receivable balances, changes in customer payment patterns, known fraudulent activity in the portfolio, as well as leading economic and market indicators. As of March 31, 2017 , approximately 95 percent of the outstanding balance of total trade accounts receivable was current and approximately 98 percent of the outstanding balance of total trade accounts receivable was less than 60 days past due. As of March 31, 2016 , approximately 90 percent of the outstanding balance of total trade accounts receivable was current and approximately 98 percent of the outstanding balance was less than 60 days past due. The outstanding balance is made up of receivables from a wide range of industries. No one customer represented more than 10 percent of the outstanding receivables balance at March 31, 2017 . One customer represented 11 percent of the outstanding receivables balance at December 31, 2016 . The following table presents changes in reserves for credit losses related to accounts receivable: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 20,092 $ 13,832 Provision for credit losses 12,231 3,917 Charges to other accounts 2,939 — Charge-offs (13,369 ) (7,036 ) Recoveries of amounts previously charged-off 928 1,340 Currency translation 745 98 Balance, end of period $ 23,566 $ 12,151

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings per Share	5. Earnings per Share Basic earnings per share is computed by dividing net earnings attributable to shareholders by the weighted average number of shares of common stock and vested deferred stock units outstanding during the year. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options, the assumed issuance of unvested restricted stock units and deferred stock units, and unvested performance-based restricted stock units for which the performance condition has been met as of the date of determination using the treasury stock method unless the effect is anti-dilutive. The treasury stock method assumes that proceeds, including cash received from the exercise of employee stock options and the total unrecognized compensation expense for unvested share-based compensation awards, would be used to purchase the Company's common stock at the average market price during the period. Prior to the January 2017 adoption of ASU 2016-09, the treasury stock method also included excess tax benefits in its proceeds calculation. The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2017 and 2016 : Three Months Ended March 31, 2017 2016 Net earnings attributable to shareholders $ 29,401 $ 23,086 Weighted average common shares outstanding – Basic 42,871 38,756 Dilutive impact of share based compensation awards 248 94 Weighted average common shares outstanding – Diluted 43,119 38,850 For the three months ended March 31, 2017 and March 31, 2016 , an immaterial number of outstanding share-based awards, for which the performance condition had been met as of the dates of determination if applicable, were excluded from the computation of diluted earnings per share because the effect of including these awards would be anti-dilutive.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	6. Derivative Instruments The Company is exposed to certain market risks relating to its ongoing business operations. From time to time, the Company enters into derivative instrument arrangements to manage various risks including interest rate risk, foreign exchange risk, and commodity price risk. None of these derivative instruments qualify for hedge accounting treatment. Interest Rate Swap Agreements In November 2016, the Company entered into three forward-fixed interest rate swap agreements to manage the interest rate risk associated with our outstanding variable-interest rate borrowings. Under these swap agreements, the Company receives variable interest of 1-month LIBOR and pays fixed rates between 0.896% to 1.125% , reducing a portion of the variability of the future interest payments associated with $800,000 of the Company's borrowings. The notional amounts, fixed and variable interest rates and maturities of the interest rate swap agreements are as follows: Tranche A Tranche B Tranche C Notional amount $400,000 $150,000 $250,000 Amortization 5% annually N/A N/A Maturity date 12/31/2020 12/31/2020 12/31/2018 Fixed interest rate 1.108% 1.125% 0.896% See Note 9 , Fair Value for more information regarding the valuation of our interest rate swaps. Foreign Currency Exchange Program The Company utilizes a limited foreign currency exchange hedging program, entering into short-term foreign currency swaps to convert the foreign currency exposures of certain foreign currency denominated intercompany loans and investments to the base currency. We will continue to monitor our foreign currency exposure for discrete items and may, from time to time, hedge certain foreign currency transactions. The following table summarizes the contracts related to foreign currency swaps, which settle in the base currency at various dates within 5 days after quarter-end: Aggregate Notional Amount March 31, 2017 2016 Australian dollar A$ 18,000 A$ 15,000 Norwegian Krone NOK NOK 40,000 The amount of gains and losses associated with these foreign currency swaps were not material for the quarters ending March 31, 2017 and 2016. Fuel Derivatives Program In prior years, the Company entered into put and call option contracts related to the Company’s commodity price risk. These put and call option contracts, or fuel price derivative instruments, were designed to reduce the volatility of the Company’s cash flows associated with its fuel price-related earnings exposure in North America. During the fourth quarter of 2014, the Company suspended purchases under its fuel derivatives program due to unusually low prices in the commodities market. During the first quarter of 2016, the Company held fuel price sensitive derivative instruments to hedge approximately 20 percent of its anticipated U.S. fuel-price related earnings exposure based on assumptions at time of purchase and all of these positions were settled as of March 31, 2016. The Company is no longer hedged for changes in fuel prices. Management will continue to monitor the fuel price market and evaluate its alternatives as it relates to this hedging program. Consolidated Derivative Instruments The following table presents information on the location and fair value of derivatives recorded in the unaudited condensed consolidated balance sheets: Asset Derivatives Derivatives Not Designated as Hedging Instruments Balance Sheet Location March 31, 2017 December 31, 2016 Interest rate swaps Other assets $ 14,473 $ 12,908 Given that the Company's commodity contracts and interest rate swap agreements are not designated as hedging instruments, changes in the fair value of these instruments, which represent unrealized gains and losses, are recognized in the consolidated statements of income. The following table presents information on the amounts of derivative gains and the locations in the unaudited condensed consolidated statements of income: Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) on Derivatives Recognized in Income Three Months Ended March 31, 2017 2016 Commodity contracts Net realized and unrealized gain on fuel price derivatives $ — $ 711 Interest rate swap agreements - unrealized portion Net unrealized gains on interest rate swap agreements $ 1,565 $ — Interest rate swap agreements - realized portion Financing interest expense $ (543 ) $ —

Financing and Other Debt

Financing and Other Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Financing and Other Debt	7. Financing and Other Debt 2016 Credit Agreement On July 1, 2016 , the Company entered into the 2016 Credit Agreement, which replaced the 2014 Credit Agreement. The 2016 Credit Agreement provides for term loan facilities and a secured revolving credit facility, with a sublimit for letters of credit and swingline loans. Under this agreement, $925,000 matures on July 1, 2021 and $1,200,000 matures on July 1, 2023. Prior to maturity, amounts under the credit facility will be reduced by mandatory payments. Additional loans may be made available under the 2016 Credit Agreement upon request of the Company subject to specified terms and conditions, including receipt of lender commitments. Proceeds from the 2016 Credit Agreement may be used for working capital purposes, acquisitions, payment of dividends and other restricted payments, refinancing of indebtedness and other general corporate purposes. As of March 31, 2017 , the Company had $203,302 of borrowings, net of loan origination fees, against its $470,000 secured revolving credit facility, or approximately $267,000 of availability under the 2016 Credit Agreement, subject to the covenants as described below. The outstanding debt under the 2016 Credit Agreement amortizing term loans arrangement totaled $1,628,938 at March 31, 2017 . As of March 31, 2017 and December 31, 2016 , amounts outstanding under the 2016 Credit Agreement bore a weighted average effective interest rate of 4.4 percent and 4.2 percent , respectively. As of both March 31, 2017 and December 31, 2016 , the Company has posted approximately $13,350 in letters of credit as collateral for lease agreements and virtual card and fuel payment processing activity at our foreign subsidiaries. Amounts outstanding under the 2016 Credit Agreement bear interest at a rate equal to, at the Company’s option, (a) the Eurocurrency Rate, as defined in the 2016 Credit Agreement, plus a margin of between 1.75% to 3.25% ( 2.75% at March 31, 2017 ) with respect to the tranche A term loan facility and the revolving credit facility and between 3.25% to 3.50% ( 3.50% at March 31, 2017 ) with respect to the tranche B term loan facility (with the Eurocurrency Rate subject to a 0.75% floor in the case of the tranche B term loan facility and a 0.0% floor in the case of the tranche A term loan and revolving credit facility), in each case, based on the ratio of consolidated funded indebtedness less up to $350,000 in permitted securitization transactions of the Company and its subsidiaries to consolidated EBITDA or (b) the highest of (i) the Federal Funds Rate plus 0.50% , (ii) the prime rate announced by Bank of America, and (iii) the Eurocurrency Rate plus 1.00% , in each case plus a margin of 0.75% to 2.25% ( 1.75% at March 31, 2017 ) with respect to the tranche A term loan facility and the revolving credit facility or 2.25% to 2.50% ( 2.50% at March 31, 2017 ) with respect to the tranche B term loan facility, in each case, based on the ratio of consolidated funded indebtedness less up to $350,000 in permitted securitization transactions of the Company and its subsidiaries to consolidated EBITDA. In November 2016, the Company entered into three interest rate swap agreements to manage the interest rate risk associated with our outstanding variable-interest rate borrowings under the 2016 Credit Agreement. See Note 6, Derivative Instruments, for further discussion. In addition, the Company has agreed to pay a quarterly commitment fee at a rate per annum ranging from 0.30% to 0.50% ( 0.45% at March 31, 2017 ) based on the ratio of consolidated funded indebtedness less up to $350,000 in permitted securitization transactions of the Company and its subsidiaries to consolidated EBITDA of the daily unused portion of the 2016 Credit Agreement. The tranche B term loan facility was issued with an original issue discount of 1.00% . Debt Covenants As more fully described in our Annual Report on Form 10-K for the year ended December 31, 2016 , the 2016 Credit Agreement and the Indenture contain covenants that limit the Company's and our subsidiaries' ability to (i) incur additional debt, (ii) pay dividends or make other distributions on, redeem or repurchase capital stock, or make investments or other restricted payments, (iii) enter into transactions with affiliates, (iv) dispose of assets or issue stock of restricted subsidiaries or regulated subsidiaries, (v) create liens on assets, or (vi) effect a consolidation or merger or sell all, or substantially all, of the Company’s assets. As of March 31, 2017 , we were in compliance with all material covenants of our 2016 Credit Agreement and the Indenture. $400 Million Notes Outstanding On January 30, 2013, the Company completed a $400,000 offering in an aggregate principal amount of 4.750 percent senior notes due 2023. The Notes will mature on February 1, 2023, with interest of 4.750 percent payable semiannually. See Note 9 , Fair Value, for additional information. Borrowed Federal Funds WEX Bank borrows from lines of credit on a federal funds rate basis to supplement the financing of its accounts receivable. Our federal funds lines of credit were $250,000 as of March 31, 2017 and December 31, 2016 , with no outstanding balance as of March 31, 2017. WEX Brazil Debt WEX Brazil had debt of approximately $12,699 and $30,755 as of March 31, 2017 and December 31, 2016 , respectively. This was comprised of credit facilities and loan arrangements related to its accounts receivable, with various maturity dates. The average interest rate was 24.1 percent and 19.7 percent as of March 31, 2017 and December 31, 2016 , respectively. This debt is classified in Other debt on the Company’s unaudited condensed consolidated balance sheets for the periods presented. Participation Debt WEX Bank maintains agreements with third-party banks to fund customer balances that exceed WEX Bank's lending limit to an individual customer. These borrowings carry a variable interest rate of 1 to 3-month LIBOR plus a margin of 225 basis points. The balance of the debt was $95,000 at each of March 31, 2017 and December 31, 2016 , and was secured by an interest in the underlying customer receivables. The balance will fluctuate on a daily basis based on customer funding needs, and could range from $0 to $95,000 . The balances will mature in amounts of $50,000 and $45,000 on August 18, 2017 and December 31, 2020, respectively. This debt is classified in Other debt on the Company’s unaudited condensed consolidated balance sheets. Australian Securitization Facility The Company has entered into a one year securitized debt agreement with the Bank of Tokyo-Mitsubishi UFJ, Ltd expiring April 2017. Subsequent to March 31, 2017 , this agreement was extended for an additional year. Under the terms of the agreement, each month, on a revolving basis, the Company sells certain of its Australian receivables to the Company's Australian Securitization Subsidiary. The Australian Securitization Subsidiary, in turn, uses the receivables as collateral to issue asset-backed commercial paper ("securitized debt") for approximately 85 percent of the securitized receivables. The amount collected on the securitized receivables is restricted to pay the securitized debt and is not available for general corporate purposes. The Company pays a variable interest rate on the outstanding balance of the securitized debt, based on the Australian Bank Bill Rate plus an applicable margin. The interest rate was 2.68 percent and 2.65 percent as of March 31, 2017 and December 31, 2016 , respectively. The Company had securitized debt under this facility of $86,327 and $78,592 as of March 31, 2017 and December 31, 2016 , respectively. European Securitization Facility On April 7, 2016, the Company entered into a five year securitized debt agreement with the Bank of Tokyo-Mitsubishi UFJ, Ltd. Under the terms of the agreement, the Company sells certain of its receivables from selected European countries to its European Securitization Subsidiary. The European Securitization Subsidiary, in turn, uses the receivables as collateral to issue securitized debt. The amount collected on the securitized receivables is restricted to pay the securitized debt and is not available for general corporate purposes. The amounts of receivables to be securitized under this agreement will be determined by management on a monthly basis. The interest rate was 0.94 percent and 0.95 percent as of March 31, 2017 and December 31, 2016 , respectively. The Company had $6,349 and $5,731 of securitized debt as of March 31, 2017 and December 31, 2016 , respectively. Debt Issuance Costs The following table presents the Company's net debt issuance costs related to its revolving line of credit facilities, term loans and notes outstanding: March 31, 2017 December 31, 2016 Revolving line of credit facilities and term loans $ 36,600 $ 38,334 Notes outstanding $ 4,282 $ 4,466

Factoring

Factoring	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Factoring	8. Factoring WEX Europe Services Accounts Receivable Factoring During the first quarter of 2017, WEX Europe Services ("WES") entered into a factoring arrangement with an unrelated third-party financial institution (the "Purchasing Bank") to sell certain of its accounts receivable in order to accelerate the collection of the Company's cash and reduce internal costs, thereby improving liquidity. Under this arrangement, the Purchasing Bank establishes a credit limit for each customer account. The factored receivables are without recourse to the extent that the customer balances are maintained at or below the established credit limit. For customer receivable balances in excess of the Purchasing Bank's credit limit, the Company maintains the risk of default. The Purchasing Bank is deemed the purchaser of these receivables and is entitled to enforce payment of these amounts from the debtor. Additionally, there are no indications of the Company's continuing involvement in the factored receivables. As further substantiation for the treatment of these receivables, we obtained a true sale opinion from an independent attorney, which states that the factoring agreement creates a sale of receivables both below and above the established credit limits under local law. This factoring arrangement is accounted for as a sale and accordingly the Company records the receivables sold as a reduction of accounts receivable and proceeds as cash from operating activities. The Company sold approximately $53,000 receivables during the three months ended March 31, 2017. Proceeds received are recorded net of applicable expenses, interest and commissions. This resulted in a loss on factoring of approximately $200 for the three months ended March 31, 2017, and was recorded in Other expenses in the unaudited condensed consolidated statement of income. As of March 31, 2017, the Company had associated factoring receivables of approximately $400 , of which $200 were in excess of the established credit limit. There were no charge-backs on balances in excess of the credit limit during the three months ended March 31, 2017. Brazil Accounts Receivable Factoring During the first quarter of 2017, WEX Brazil entered into a factoring agreement to sell certain unsecured receivables, without recourse, to an unrelated third-party financial institution. Under the terms of the agreement, the Company retains no rights or interest and has no obligations with respect to the receivables. As such, the factoring under this arrangement is accounted for as a sale. The Company sold approximately $8,000 of receivables during the three months ended March 31, 2017, which resulted in a $400 loss on factoring, which was recorded in Other expenses in the unaudited condensed consolidated statement of income. The Company records receivables sold under this agreement as a reduction of accounts receivable and proceeds as cash from operating activities.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value	9. Fair Value The Company holds mortgage-backed securities, fixed income securities, derivatives (see Note 6 , Derivative Instruments) and certain other financial instruments which are carried at fair value. The Company determines fair value based upon quoted prices when available or through the use of alternative approaches, such as model pricing, when market quotes are not readily accessible or available. Various factors are considered in determining the fair value of the Company’s obligations, including: closing exchange or over-the-counter market price quotations; time value and volatility factors underlying options and derivatives; price activity for equivalent instruments; and the Company’s own credit standing. These valuation techniques may be based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 – Instruments whose significant value drivers are unobservable. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. We did not have any transfers between Level 1 and Level 2 of the fair value hierarchy during either of three months ended March 31, 2017 or March 31, 2016 . The following table presents the Company’s assets that are measured at fair value and the related hierarchy levels: Fair Value Hierarchy March 31, 2017 December 31, 2016 Assets: Municipal bonds 2 $ 596 $ 682 Asset-backed securities 2 514 648 Mortgage-backed securities 2 484 490 Fixed-income mutual fund 1 21,819 21,705 Total available-for-sale securities $ 23,413 $ 23,525 Executive deferred compensation plan trust (a) 1 $ 6,716 $ 5,673 Interest rate swaps (a) 2 $ 14,473 $ 12,908 (a) The fair value of these instruments is recorded in Other assets. Available-For-Sale Securities When available, the Company uses quoted market prices to determine the fair value of available-for-sale securities; such items are classified in Level 1 of the fair-value hierarchy. These securities primarily consist of an open-ended mutual fund which is invested in fixed-income securities and is held in order to satisfy the regulatory requirements of WEX Bank. For mortgage-backed and asset-backed debt securities and municipal bonds, the Company generally uses quoted prices for recent trading activity of assets with similar characteristics to the debt security or bond being valued. The securities and bonds priced using such methods are generally classified as Level 2. Executive Deferred Compensation Plan Trust The obligations related to the deferred compensation plan trust are classified as Level 1 in the fair value hierarchy because the fair value is determined using quoted prices for identical instruments in active markets. Interest Rate Swap Arrangements The Company determines the fair value of its interest rate swaps based on the discounted cash flows of the difference between the projected fixed payments on the swap and the implied floating payments using the current LIBOR curve, which are Level 2 inputs in the fair value hierarchy. $400 Million Notes Outstanding Not considering unamortized loan origination fees, the Notes outstanding have a carrying value of $400,000 at each of March 31, 2017 and December 31, 2016 , and a fair value of $394,000 and $390,000 as of March 31, 2017 and December 31, 2016 , respectively. The fair value is based on market rates for the issuance of our debt. The Company determined the fair value of its Notes outstanding is classified as Level 2 in the fair value hierarchy. Debt The Company determines the fair value of the amount outstanding under its 2016 Credit Facility based on the market rates for the issuance of the Company's debt, which are Level 2 inputs in the fair value hierarchy. As of March 31, 2017, the 2016 Credit Facility has a carrying value of $1,832,240 and a fair value of $1,846,481 . As of December 31, 2016, the carrying value of the Credit Facility approximated its carrying value.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	10. Accumulated Other Comprehensive Loss A reconciliation of accumulated other comprehensive loss is as follows: Three Months Ended March 31, 2017 2016 Unrealized Gains and Losses on Available- for-Sale Securities Foreign Currency Items Unrealized Gains and Losses on Available- for-Sale Securities Foreign Currency Items Beginning balance $ (463 ) $ (122,376 ) $ (212 ) $ (103,239 ) Other comprehensive income 3 16,578 164 10,318 Ending balance $ (460 ) $ (105,798 ) $ (48 ) $ (92,921 ) The total tax effect on accumulated unrealized losses was $5,842 and $3,821 as of March 31, 2017 and March 31, 2016 , respectively. The change in foreign currency items is primarily due to the foreign currency translation of non-cash assets such as goodwill and other intangible assets related to the Company's foreign subsidiaries. No amounts were reclassified from accumulated other comprehensive income (loss) in the periods presented.

Non-Controlling Interest

Non-Controlling Interest	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Non-Controlling Interest	11. Non-Controlling Interest On December 1, 2014, WEX acquired the assets of ExxonMobil's Esso portfolio in Europe through its majority owned subsidiary, WEX Europe Services Limited. The Company formed this entity during 2013 and has 75 percent ownership. A reconciliation of non-controlling interest is as follows: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 8,558 $ 12,437 Net (loss) gain attributable to non-controlling interest (325 ) 135 Currency translation adjustment 42 456 Balance, end of period $ 8,275 $ 13,028

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The Company's effective tax rate was 33.3 percent for the first quarter of 2017 as compared to 36.2 percent for the first quarter of 2016 . As a result of the recent adoption of ASU 2016-09, the $1,600 tax effect of excess tax benefits related to share-based payments was recorded to the income statement in the first quarter of 2017, which contributed to the lower effective tax rate. See Note 1, Basis of Presentation for more information. Undistributed earnings of certain foreign subsidiaries of the Company amounted to $29,722 and $25,824 at March 31, 2017 and December 31, 2016 , respectively. These earnings are considered to be indefinitely reinvested, and accordingly, no U.S. federal and state income taxes have been provided thereon. Upon distribution of these earnings in the form of dividends or otherwise, the Company would be subject to both U.S. income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to the various foreign countries. The Company has determined that the amount of taxes attributable to these undistributed earnings is not practicably determinable.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Litigation On August 11, 2016, the Company was sued in the Circuit Court of St. Charles County, Missouri, in a putative class action alleging the Company improperly sent unauthorized facsimile advertisements in violation of the Telephone Consumer Protection Act, 47 U.S.C. § 227 (the “TCPA”). The named plaintiff seeks to represent a nationwide class of recipients of unauthorized facsimile advertisements from the Company (collectively, the "Plaintiffs") and requests statutory damages for each facsimile advertisement. The Plaintiffs further allege that the opt-out notice of the faxes did not meet the criteria set forth in the TCPA or its underlying regulations. The Company removed the case to the United States District Court for the Eastern District of Missouri on September 15, 2016. On October 14, 2016, the Company filed an answer denying liability and stating the facsimile advertisement at issue was sent by FleetOne, LLC, Company’s wholly-owned subsidiary. The Company is currently conducting an internal review of this matter and intends to vigorously defend itself. The current estimate of a reasonably possible loss contingency is not material to the Company's unaudited condensed consolidated financial position, results of operations, cash flows or liquidity. The Company is involved in other pending litigation in the ordinary course of business. In the opinion of management, such litigation will not have a material adverse effect on the Company’s unaudited condensed consolidated financial position, results of operations or cash flows. Commitments Significant commitments and contingencies as of March 31, 2017 are consistent with those discussed in Note 18, Commitments and Contingencies to the consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2016 .

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring	14. Restructuring In the first quarter of 2015, the Company commenced a restructuring initiative (the "2015 Restructuring Initiative") as a result of its global review of operations. The global review of operations identified certain initiatives to further streamline the business, to improve the Company's efficiency, and to globalize the Company's operations, all with an objective to improve scale and increase profitability going forward. The Company continued its efforts to improve its overall operational efficiency and began a second restructuring initiative (the "2016 Restructuring Initiative") during the second quarter of 2016. In connection with the EFS acquisition, the Company initiated a restructuring program in the third quarter of 2016 (the "Acquisition Integration Restructuring Initiative"). The restructuring expenses related to these initiatives primarily consist of employee costs and office closure costs directly associated with the respective program. The Company has determined the amount of expenses related to these initiatives is probable and reasonably estimable. As such, the Company has recorded the impact on the unaudited condensed consolidated statements of income and in Accrued expenses on the unaudited condensed consolidated balance sheets. Restructuring charges incurred to date under these initiatives were $18,357 as of March 31, 2017. The balance under the 2015 Restructuring Initiative is expected to be paid through 2018. Amounts under the 2016 Restructuring Initiative and the Acquisition Integration Restructuring Initiative are expected to be paid through 2017. The Company expects to incur an additional $450 in restructuring costs related to the Acquisition Integration Restructuring Initiative. The Company does not expect to incur any additional restructuring costs related to the 2015 and 2016 Restructuring Initiatives. The following table presents the Company's 2015 Restructuring Initiative liability: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 5,231 $ 7,249 Restructuring charges 310 1,589 Cash paid (348 ) (647 ) Impact of foreign currency translation 38 315 Balance, end of period $ 5,231 $ 8,506 The following table presents the Company’s 2016 Restructuring Initiative liability: Three Months Ended March 31, 2017 Balance, beginning of year $ 3,662 Reserve release (533 ) Impact of foreign currency translation 73 Balance, end of period $ 3,202 The following table presents the Company’s Acquisition Integration Restructuring Initiative liability: Three Months Ended March 31, 2017 Balance, beginning of year $ 1,764 Restructuring charges 707 Cash paid (590 ) Other 258 Balance, end of period $ 2,139 The following table presents the Company's total restructuring liability: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 10,657 $ 7,249 Restructuring charges 1,017 1,589 Reserve release (533 ) — Cash paid (938 ) (647 ) Other 258 — Impact of foreign currency translation 111 315 Balance, end of period $ 10,572 $ 8,506

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	15. Segment Information Operating segments are defined as components of an enterprise about which separate financial information is available and is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer. The operating segments are aggregated into the three reportable segments described below. • Fleet Solutions provides customers with payment and transaction processing services specifically designed for the needs of commercial and government fleets. This segment also provides information management services to these fleet customers. • Travel and Corporate Solutions focuses on the complex payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment and transaction monitoring needs. • Health and Employee Benefit Solutions provides healthcare payment products and SaaS consumer directed platforms, as well as payroll related benefits to customers. The Company’s CODM evaluates the operating results of the Company’s operating and reportable segments based upon revenues and adjusted pre-tax income before NCI which adjusts income before income taxes to exclude unrealized gains and losses on derivatives, net foreign currency remeasurement gains and losses, acquisition and divestiture related items, stock-based compensation, restructuring and other costs and debt issuance cost amortization. Although adjusted pre-tax income before NCI is not calculated in accordance with GAAP, this non-GAAP measure is integral to the Company's reporting and planning processes and the CODM uses it to allocate resources. The Company considers this measure integral because it excludes specified items that the Company's management excludes in evaluating the Company's performance. Specifically, in addition to evaluating performance on a GAAP basis, management evaluates performance on a basis that excludes the above items because: • Exclusion of the non-cash, mark-to-market adjustments on derivative instruments, including fuel price related derivatives and interest rate swap agreements, helps management identify and assess trends in the Company's underlying business that might otherwise be obscured due to quarterly non-cash earnings fluctuations associated with these derivative contracts. The non-cash, mark-to-market adjustments on derivative instruments are difficult to forecast accurately, making comparisons across historical and future quarters difficult to evaluate. • Net foreign currency gains and losses primarily result from the remeasurement to functional currency of cash, receivable and payable balances, certain intercompany notes denominated in foreign currencies and any gain or loss on foreign currency hedges relating to these items. The exclusion of these items helps management compare changes in operating results between periods that might otherwise be obscured due to currency fluctuations. • The Company considers certain acquisition-related costs, including certain financing costs, ticking fees, investment banking fees, warranty and indemnity insurance, certain integration related expenses and amortization of acquired intangibles, as well as gains and losses from divestitures to be unpredictable, dependent on factors that may be outside of our control and unrelated to the continuing operations of the acquired or divested business or the Company. In addition, the size and complexity of an acquisition, which often drives the magnitude of acquisition-related costs, may not be indicative of such future costs. The Company believes that excluding acquisition-related costs and gains or losses of divestitures facilitates the comparison of our financial results to the Company's historical operating results and to other companies in our industry. In prior periods, the Company has adjusted for goodwill impairments and acquisition related asset impairments. No goodwill or acquisition related impairments were identified during the three months ended March 31, 2017 or 2016 . • Stock-based compensation is different from other forms of compensation, as it is a non-cash expense. For example, a cash salary generally has a fixed and unvarying cash cost. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a stock-based compensation valuation methodology and underlying assumptions that may vary over time. • Restructuring and other costs are related to employee termination benefits from certain identified initiatives to further streamline the business, improve the Company's efficiency, create synergies, and to globalize the Company's operations, all with an objective to improve scale and increase profitability going forward. We exclude these items when evaluating our continuing business performance as such items are not consistently occurring and do not reflect expected future operating expense, nor provide insight into the fundamentals of current or past operations of our business. • Debt issuance cost amortization is a non-cash item, which is unrelated to the continuing operations of the Company. Because debt issuance cost amortization is dependent upon the financing method which can vary widely company to company, we believe that excluding this cost helps to facilitate comparison to historical results as well as to other companies within our industry. For the same reasons, WEX believes that adjusted pre-tax income before NCI may also be useful to investors as one means of evaluating the Company's performance. However, because adjusted pre-tax income before NCI is a non-GAAP measure, it should not be considered as a substitute for, or superior to, net income, operating income or cash flows from operating activities as determined in accordance with GAAP. In addition, adjusted pre-tax income before NCI as used by WEX may not be comparable to similarly titled measures employed by other companies. The tables below present the Company’s reportable segment results on an adjusted pre-tax net income before NCI basis and the prior period has been updated to reflect the following: • Beginning in the third quarter of 2016, adjusted pre-tax income before NCI excluded debt issuance cost amortization. For comparative purposes, adjusted pre-tax income before NCI for the prior periods has been adjusted to reflect the exclusion of this item. • The segment information has also been updated to disaggregate revenue into payment processing, account servicing, finance fee and other revenue in order to provide additional information regarding the Company’s significant revenue streams. There was no change to total revenue or other financial information as a result of this updated presentation. The following tables present the Company’s reportable segment results on an adjusted pre-tax net income before NCI basis: Fleet Payment Solutions Travel and Corporate Solutions Health and Employee Benefit Solutions Total Three Months Ended March 31, 2017 Payment processing revenue $ 86,262 $ 34,875 $ 15,241 $ 136,378 Account servicing revenue 36,069 155 25,315 61,539 Finance fee revenue 36,429 223 6,720 43,372 Other revenue 32,063 12,460 5,545 50,068 Total revenues $ 190,823 $ 47,713 $ 52,821 $ 291,357 Operating interest expense $ 1,324 $ 1,566 $ 1,958 $ 4,848 Depreciation and amortization $ 36,068 $ 3,038 $ 10,132 $ 49,238 Adjusted pre-tax income before NCI $ 51,232 $ 22,408 $ 10,236 $ 83,876 Three Months Ended March 31, 2016 Payment processing revenue $ 62,290 $ 34,626 $ 14,141 $ 111,057 Account servicing revenue 25,438 272 18,812 44,522 Finance fee revenue 21,938 75 1,493 23,506 Other revenue 11,408 10,169 5,266 26,843 Total revenues $ 121,074 $ 45,142 $ 39,712 $ 205,928 Operating interest expense $ 422 $ 552 $ 412 $ 1,386 Depreciation and amortization $ 13,608 $ 616 $ 8,040 $ 22,264 Adjusted pre-tax income before NCI $ 33,111 $ 20,148 $ 6,577 $ 59,836 Our segments earn interest income both from banking relationships and from cardholders. The majority of interest income from cardholders is earned on our salary payment cards offered in Brazil. The following table presents the Company's interest income by segment: Three Months Ended March 31, 2017 2016 Fleet Solutions $ 1,124 $ 884 Travel and Corporate Solutions 46 92 Health and Employee Benefit Solutions 6,859 1,495 Total interest income $ 8,029 $ 2,471 The following table reconciles income before income taxes to adjusted pre-tax income before NCI: Three Months Ended March 31, 2017 2016 Income before income taxes $ 43,611 $ 36,404 Unrealized (gains) losses on derivative instruments (1,565 ) 5,007 Net foreign currency remeasurement gain (8,442 ) (16,124 ) Acquisition and divestiture related items 40,114 27,945 Stock-based compensation 6,457 4,243 Restructuring and other costs 1,747 1,589 Debt issuance cost amortization 1,954 772 Adjusted pre-tax income before NCI $ 83,876 $ 59,836

Supplementary Regulatory Capita

Supplementary Regulatory Capital Disclosure	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Supplementary Regulatory Capital Disclosure	16. Supplementary Regulatory Capital Disclosure The Company's subsidiary, WEX Bank, is subject to various regulatory capital requirements administered by the FDIC and the Utah Department of Financial Institutions. Failure to meet minimum capital requirements can initiate certain mandatory and discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, WEX Bank must meet specific capital guidelines that involve quantitative measures of WEX Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. WEX Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require WEX Bank to maintain minimum amounts and ratios as defined in the regulations. As of December 31, 2016 , the most recent FDIC exam report categorized WEX Bank as “well capitalized” under the regulatory framework for prompt corrective action. There are no conditions or events subsequent to that examination report that management believes have changed WEX Bank’s capital rating. WEX Bank’s actual and regulatory minimum capital amounts and ratios are presented in the following table: Actual Amount Ratio Minimum for Capital Adequacy Purposes Amount Ratio Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio March 31, 2017 Total Capital to risk-weighted assets $ 277,198 13.28 % $ 166,950 8.0 % $ 208,688 10.0 % Tier 1 Capital to average assets $ 262,264 12.57 % $ 83,475 4.0 % $ 104,344 5.0 % Common equity to risk-weighted assets $ 262,264 13.07 % $ 90,294 4.5 % $ 130,425 6.5 % Tier 1 Capital to risk-weighted assets $ 262,264 13.07 % $ 120,392 6.0 % $ 106,523 8.0 % December 31, 2016 Total Capital to risk-weighted assets $ 228,402 12.59 % $ 145,182 8.0 % $ 181,477 10.0 % Tier 1 Capital to average assets $ 214,847 11.10 % $ 77,413 4.0 % $ 96,767 5.0 % Common equity to risk-weighted assets $ 214,847 11.84 % $ 81,665 4.5 % $ 117,961 6.5 % Tier 1 Capital to risk-weighted assets $ 214,847 11.84 % $ 108,887 6.0 % $ 145,183 8.0 %

New Accounting Standards (Polic

New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by GAAP for complete financial statements. However, except as disclosed herein, there have been no material changes to the information disclosed in the notes to the consolidated financial statements included in the Annual Report on Form 10-K of WEX Inc. for the year ended December 31, 2016 . These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements that are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 , filed with the SEC on March 6, 2017 . In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results for any future periods or the year ending December 31, 2017 . The Company rounds amounts in the unaudited condensed consolidated financial statements to thousands and calculates all per-share data from underlying whole-dollar amounts. Thus, certain amounts may not recalculate based on reported numbers due to rounding. The presentation of the accompanying unaudited condensed consolidated statements of income for the three months ended March 31, 2016 has been updated to disaggregate revenue into payment processing, account servicing, finance fee and other revenue in order to provide additional information regarding the Company’s significant revenue streams and to conform to the current year presentation. There was no change to total revenue, income from operations, net income or net income per share as a result of this updated presentation.
New Accounting Standards	Effective January 1, 2017, the Company adopted ASU 2016-09, which simplifies several aspects of accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, statutory tax withholding requirements, and classification in the statement of cash flows. Prior to the adoption of this guidance, the Company recognized the net excess tax benefits of vested or settled awards in additional paid-in capital. This standard requires prospective recognition of all the tax effects related to share-based payments in the income statement. The impact of adoption was recorded as a $263 cumulative effect adjustment to Retained earnings. For the three months ended March 31, 2017, the Company recognized $1,600 of excess tax benefits within our income tax provision, which would have been recognized in additional paid-in-capital under previous guidance. See Note 12 , Income Taxes, for the resulting impact on our effective tax rate. The Company has elected to prospectively classify these excess tax benefits as cash flows from operating activities for the three months ended March 31, 2017. The Company will continue to estimate the number of awards expected to vest, rather than electing to account for forfeitures as they occur. Adoption of this standard is not anticipated to impact the Company's minimum statutory tax withholding practices. In March 2017, the FASB issued ASU 2017-07, which changes the presentation of net benefit pension costs by requiring the disaggregation of certain of its components. Under the guidance, companies are required to present the service cost component in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost will be presented in the income statement separately from the service cost component and outside the subtotal of operating income, if one is presented. Additionally, only the service cost component will be eligible for capitalization under the new guidance. The standard is effective for annual or interim periods beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual period for which financial statements, interim or annual, have not been issued or made available for issuance. The Company does not believe this standard will have a material impact on the consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU 2014-09 ("Topic 606"), which will supersede most existing revenue recognition guidance under GAAP. The new revenue recognition standard requires entities to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Topic 606 does not apply to rights or obligations associated with financial instruments (e.g. interest income), including the Company’s finance fee and interest income from banking relationships and cardholders. As such, approximately 14 percent of consolidated revenues for the period ended December 31, 2016 will not be impacted by Topic 606. The Company’s revenue from discount and interchange, transaction processing and certain fees is within the scope of Topic 606. FASB and its Transition Resource Group have issued clarifications on various aspects of ASU 2014-09. Those clarifications, along with the guidance under Topic 606 support the conclusion that timing and measurement of revenue associated with the Company’s transaction processing services, including discount and interchange and other transaction processing fees, or approximately 48 percent of consolidated revenues for the period ended December 31, 2016, will remain substantially unchanged under the new standard. The Company is in the process of assessing the remaining revenue streams that fall within the scope of this new standard. Included in this assessment is confirming principal vs. agent determinations, reviewing commission structure and applying the series guidance to the Company's revenue streams. Under the new guidance certain costs to obtain a contract, such as sales commissions are to be capitalized and amortized over the life of the contract, with a practical expedient available for contracts under one year in duration. Sales commissions that were expensed were approximately $5,400 for the period ended March 31, 2017. On July 9, 2015, the FASB voted to defer the effective date by one year to interim and annual reporting periods beginning after December 15, 2017, and permitted early adoption of the standard, but not for periods beginning on or before the original effective date of January 1, 2017. The Company is not electing early adoption and as a result the standard will become effective on January 1, 2018. The guidance permits two methods of adoption: full retrospective approach, which requires an entity to restate each prior period that is reported in the financial statements and modified retrospective approach, which requires a cumulative adjustment to retained earnings as of the effective date, without restatement of prior period amounts. The Company currently anticipates adopting the standard using the modified retrospective method.
Fair Value of Financial Instruments	Available-For-Sale Securities When available, the Company uses quoted market prices to determine the fair value of available-for-sale securities; such items are classified in Level 1 of the fair-value hierarchy. These securities primarily consist of an open-ended mutual fund which is invested in fixed-income securities and is held in order to satisfy the regulatory requirements of WEX Bank. For mortgage-backed and asset-backed debt securities and municipal bonds, the Company generally uses quoted prices for recent trading activity of assets with similar characteristics to the debt security or bond being valued. The securities and bonds priced using such methods are generally classified as Level 2. Executive Deferred Compensation Plan Trust The obligations related to the deferred compensation plan trust are classified as Level 1 in the fair value hierarchy because the fair value is determined using quoted prices for identical instruments in active markets. Interest Rate Swap Arrangements The Company determines the fair value of its interest rate swaps based on the discounted cash flows of the difference between the projected fixed payments on the swap and the implied floating payments using the current LIBOR curve, which are Level 2 inputs in the fair value hierarchy. $400 Million Notes Outstanding Not considering unamortized loan origination fees, the Notes outstanding have a carrying value of $400,000 at each of March 31, 2017 and December 31, 2016 , and a fair value of $394,000 and $390,000 as of March 31, 2017 and December 31, 2016 , respectively. The fair value is based on market rates for the issuance of our debt. The Company determined the fair value of its Notes outstanding is classified as Level 2 in the fair value hierarchy. Debt The Company determines the fair value of the amount outstanding under its 2016 Credit Facility based on the market rates for the issuance of the Company's debt, which are Level 2 inputs in the fair value hierarchy. The Company holds mortgage-backed securities, fixed income securities, derivatives (see Note 6 , Derivative Instruments) and certain other financial instruments which are carried at fair value. The Company determines fair value based upon quoted prices when available or through the use of alternative approaches, such as model pricing, when market quotes are not readily accessible or available. Various factors are considered in determining the fair value of the Company’s obligations, including: closing exchange or over-the-counter market price quotations; time value and volatility factors underlying options and derivatives; price activity for equivalent instruments; and the Company’s own credit standing. These valuation techniques may be based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 – Instruments whose significant value drivers are unobservable. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. We did not have any transfers between Level 1 and Level 2 of the fair value hierarchy during either of three months ended March 31, 2017 or March 31, 2016 . Available-For-Sale Securities When available, the Company uses quoted market prices to determine the fair value of available-for-sale securities; such items are classified in Level 1 of the fair-value hierarchy. These securities primarily consist of an open-ended mutual fund which is invested in fixed-income securities and is held in order to satisfy the regulatory requirements of WEX Bank. For mortgage-backed and asset-backed debt securities and municipal bonds, the Company generally uses quoted prices for recent trading activity of assets with similar characteristics to the debt security or bond being valued. The securities and bonds priced using such methods are generally classified as Level 2. Executive Deferred Compensation Plan Trust The obligations related to the deferred compensation plan trust are classified as Level 1 in the fair value hierarchy because the fair value is determined using quoted prices for identical instruments in active markets. Interest Rate Swap Arrangements The Company determines the fair value of its interest rate swaps based on the discounted cash flows of the difference between the projected fixed payments on the swap and the implied floating payments using the current LIBOR curve, which are Level 2 inputs in the fair value hierarchy. $400 Million Notes Outstanding Not considering unamortized loan origination fees, the Notes outstanding have a carrying value of $400,000 at each of March 31, 2017 and December 31, 2016 , and a fair value of $394,000 and $390,000 as of March 31, 2017 and December 31, 2016 , respectively. The fair value is based on market rates for the issuance of our debt. The Company determined the fair value of its Notes outstanding is classified as Level 2 in the fair value hierarchy.
Receivables	Receivables are generally written off when they are 150 days past due or upon declaration of bankruptcy by the customer. The reserve for credit losses is calculated by an analytic model that also takes into account other factors, such as the actual charge-offs for the preceding reporting periods, expected charge-offs and recoveries for the subsequent reporting periods, a review of past due accounts receivable balances, changes in customer payment patterns, known fraudulent activity in the portfolio, as well as leading economic and market indicators.
Earnings per Share	Basic earnings per share is computed by dividing net earnings attributable to shareholders by the weighted average number of shares of common stock and vested deferred stock units outstanding during the year. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options, the assumed issuance of unvested restricted stock units and deferred stock units, and unvested performance-based restricted stock units for which the performance condition has been met as of the date of determination using the treasury stock method unless the effect is anti-dilutive. The treasury stock method assumes that proceeds, including cash received from the exercise of employee stock options and the total unrecognized compensation expense for unvested share-based compensation awards, would be used to purchase the Company's common stock at the average market price during the period. Prior to the January 2017 adoption of ASU 2016-09, the treasury stock method also included excess tax benefits in its proceeds calculation.
Derivative Instruments	The Company is exposed to certain market risks relating to its ongoing business operations. From time to time, the Company enters into derivative instrument arrangements to manage various risks including interest rate risk, foreign exchange risk, and commodity price risk. None of these derivative instruments qualify for hedge accounting treatment.
Segment Information	Operating segments are defined as components of an enterprise about which separate financial information is available and is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer. The operating segments are aggregated into the three reportable segments described below. • Fleet Solutions provides customers with payment and transaction processing services specifically designed for the needs of commercial and government fleets. This segment also provides information management services to these fleet customers. • Travel and Corporate Solutions focuses on the complex payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment and transaction monitoring needs. • Health and Employee Benefit Solutions provides healthcare payment products and SaaS consumer directed platforms, as well as payroll related benefits to customers. The Company’s CODM evaluates the operating results of the Company’s operating and reportable segments based upon revenues and adjusted pre-tax income before NCI which adjusts income before income taxes to exclude unrealized gains and losses on derivatives, net foreign currency remeasurement gains and losses, acquisition and divestiture related items, stock-based compensation, restructuring and other costs and debt issuance cost amortization. Although adjusted pre-tax income before NCI is not calculated in accordance with GAAP, this non-GAAP measure is integral to the Company's reporting and planning processes and the CODM uses it to allocate resources. The Company considers this measure integral because it excludes specified items that the Company's management excludes in evaluating the Company's performance. Specifically, in addition to evaluating performance on a GAAP basis, management evaluates performance on a basis that excludes the above items because: • Exclusion of the non-cash, mark-to-market adjustments on derivative instruments, including fuel price related derivatives and interest rate swap agreements, helps management identify and assess trends in the Company's underlying business that might otherwise be obscured due to quarterly non-cash earnings fluctuations associated with these derivative contracts. The non-cash, mark-to-market adjustments on derivative instruments are difficult to forecast accurately, making comparisons across historical and future quarters difficult to evaluate. • Net foreign currency gains and losses primarily result from the remeasurement to functional currency of cash, receivable and payable balances, certain intercompany notes denominated in foreign currencies and any gain or loss on foreign currency hedges relating to these items. The exclusion of these items helps management compare changes in operating results between periods that might otherwise be obscured due to currency fluctuations. • The Company considers certain acquisition-related costs, including certain financing costs, ticking fees, investment banking fees, warranty and indemnity insurance, certain integration related expenses and amortization of acquired intangibles, as well as gains and losses from divestitures to be unpredictable, dependent on factors that may be outside of our control and unrelated to the continuing operations of the acquired or divested business or the Company. In addition, the size and complexity of an acquisition, which often drives the magnitude of acquisition-related costs, may not be indicative of such future costs. The Company believes that excluding acquisition-related costs and gains or losses of divestitures facilitates the comparison of our financial results to the Company's historical operating results and to other companies in our industry. In prior periods, the Company has adjusted for goodwill impairments and acquisition related asset impairments. No goodwill or acquisition related impairments were identified during the three months ended March 31, 2017 or 2016 . • Stock-based compensation is different from other forms of compensation, as it is a non-cash expense. For example, a cash salary generally has a fixed and unvarying cash cost. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a stock-based compensation valuation methodology and underlying assumptions that may vary over time. • Restructuring and other costs are related to employee termination benefits from certain identified initiatives to further streamline the business, improve the Company's efficiency, create synergies, and to globalize the Company's operations, all with an objective to improve scale and increase profitability going forward. We exclude these items when evaluating our continuing business performance as such items are not consistently occurring and do not reflect expected future operating expense, nor provide insight into the fundamentals of current or past operations of our business. • Debt issuance cost amortization is a non-cash item, which is unrelated to the continuing operations of the Company. Because debt issuance cost amortization is dependent upon the financing method which can vary widely company to company, we believe that excluding this cost helps to facilitate comparison to historical results as well as to other companies within our industry. For the same reasons, WEX believes that adjusted pre-tax income before NCI may also be useful to investors as one means of evaluating the Company's performance. However, because adjusted pre-tax income before NCI is a non-GAAP measure, it should not be considered as a substitute for, or superior to, net income, operating income or cash flows from operating activities as determined in accordance with GAAP. In addition, adjusted pre-tax income before NCI as used by WEX may not be comparable to similarly titled measures employed by other companies.

Business Acquisition - (Tables)

Business Acquisition - (Tables)	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Schedule of Business Acquisitions	The following represents the components and preliminary allocation of the purchase price: As Reported December 31, 2016 Measurement Period Adjustments As Reported March 31, 2017 Total consideration, net of cash acquired $ 1,444,235 $ — $ 1,444,235 Less: Accounts receivable 162,684 — 162,684 Property and equipment 2,387 1 2,388 Customer relationships (a)(b) 842,700 (1,300 ) 841,400 Developed technologies (a)(c) 32,120 — 32,120 Trademarks and trade names (a)(d) 13,700 — 13,700 Deferred income tax assets 34,992 — 34,992 Accounts payable (153,777 ) 248 (153,529 ) Accrued expenses (128,267 ) 9,146 (119,121 ) Deferred income tax liabilities (91,194 ) — (91,194 ) Recorded goodwill (a) $ 728,890 $ (8,095 ) $ 720,795 (a) Approximately $1,262,367 in goodwill and other intangible assets recorded from this business combination were preliminarily allocated to our Fleet Solutions segment; the remaining $345,648 was preliminarily allocated to our Travel and Corporate Solutions segment. (b) Weighted average life – 8.1 years . (c) Weighted average life – 2.0 years . (d) Weighted average life – 7.7 years .
Estimated Amortization Expense Related to Definite Lived Intangible Assets	At March 31, 2017, estimated amortization expense related to the definite-lived intangible assets listed above for each of the next five fiscal years and thereafter is as follows: Remaining 2017 $ 64,032 2018 $ 80,987 2019 $ 74,548 2020 $ 68,685 2021 $ 60,654 2022 $ 53,537 Thereafter $ 427,408
Business Acquisition, Pro Forma Information	The following represents unaudited pro forma operational results as if the acquisition had occurred January 1, 2015: Three Months Ended March 31, 2016 Total revenues $ 240,297 Net earnings attributable to shareholders $ 18,333 Pro forma net income attributable to shareholders per common share: Basic $ 0.43 Diluted $ 0.43

Reserves for Credit Losses - (T

Reserves for Credit Losses - (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Changes in Reserves for Credit Losses Related to Accounts Receivable	The following table presents changes in reserves for credit losses related to accounts receivable: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 20,092 $ 13,832 Provision for credit losses 12,231 3,917 Charges to other accounts 2,939 — Charge-offs (13,369 ) (7,036 ) Recoveries of amounts previously charged-off 928 1,340 Currency translation 745 98 Balance, end of period $ 23,566 $ 12,151

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Reconciliation of Income and Share Data Used in Basic and Diluted Earnings Per Share Computations	The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2017 and 2016 : Three Months Ended March 31, 2017 2016 Net earnings attributable to shareholders $ 29,401 $ 23,086 Weighted average common shares outstanding – Basic 42,871 38,756 Dilutive impact of share based compensation awards 248 94 Weighted average common shares outstanding – Diluted 43,119 38,850

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The notional amounts, fixed and variable interest rates and maturities of the interest rate swap agreements are as follows: Tranche A Tranche B Tranche C Notional amount $400,000 $150,000 $250,000 Amortization 5% annually N/A N/A Maturity date 12/31/2020 12/31/2020 12/31/2018 Fixed interest rate 1.108% 1.125% 0.896% The following table summarizes the contracts related to foreign currency swaps, which settle in the base currency at various dates within 5 days after quarter-end: Aggregate Notional Amount March 31, 2017 2016 Australian dollar A$ 18,000 A$ 15,000 Norwegian Krone NOK NOK 40,000
Location and Amounts of Derivative Gains and Losses in Condensed Consolidated Statements of Income	The following table presents information on the amounts of derivative gains and the locations in the unaudited condensed consolidated statements of income: Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) on Derivatives Recognized in Income Three Months Ended March 31, 2017 2016 Commodity contracts Net realized and unrealized gain on fuel price derivatives $ — $ 711 Interest rate swap agreements - unrealized portion Net unrealized gains on interest rate swap agreements $ 1,565 $ — Interest rate swap agreements - realized portion Financing interest expense $ (543 ) $ —
Location and Amounts of Derivative Fair Values in Condensed Consolidated Balance Sheets	The following table presents information on the location and fair value of derivatives recorded in the unaudited condensed consolidated balance sheets: Asset Derivatives Derivatives Not Designated as Hedging Instruments Balance Sheet Location March 31, 2017 December 31, 2016 Interest rate swaps Other assets $ 14,473 $ 12,908

Financing and Other Debt (Table

Financing and Other Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Debt Issuance Costs	The following table presents the Company's net debt issuance costs related to its revolving line of credit facilities, term loans and notes outstanding: March 31, 2017 December 31, 2016 Revolving line of credit facilities and term loans $ 36,600 $ 38,334 Notes outstanding $ 4,282 $ 4,466

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	The following table presents the Company’s assets that are measured at fair value and the related hierarchy levels: Fair Value Hierarchy March 31, 2017 December 31, 2016 Assets: Municipal bonds 2 $ 596 $ 682 Asset-backed securities 2 514 648 Mortgage-backed securities 2 484 490 Fixed-income mutual fund 1 21,819 21,705 Total available-for-sale securities $ 23,413 $ 23,525 Executive deferred compensation plan trust (a) 1 $ 6,716 $ 5,673 Interest rate swaps (a) 2 $ 14,473 $ 12,908 (a) The fair value of these instruments is recorded in Other assets.

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Reconciliation of Accumulated Other Comprehensive Income	A reconciliation of accumulated other comprehensive loss is as follows: Three Months Ended March 31, 2017 2016 Unrealized Gains and Losses on Available- for-Sale Securities Foreign Currency Items Unrealized Gains and Losses on Available- for-Sale Securities Foreign Currency Items Beginning balance $ (463 ) $ (122,376 ) $ (212 ) $ (103,239 ) Other comprehensive income 3 16,578 164 10,318 Ending balance $ (460 ) $ (105,798 ) $ (48 ) $ (92,921 )

Non-Controlling Interest (Table

Non-Controlling Interest (Tables)	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Summary of Noncontrolling Interests	A reconciliation of non-controlling interest is as follows: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 8,558 $ 12,437 Net (loss) gain attributable to non-controlling interest (325 ) 135 Currency translation adjustment 42 456 Balance, end of period $ 8,275 $ 13,028

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table presents the Company's 2015 Restructuring Initiative liability: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 5,231 $ 7,249 Restructuring charges 310 1,589 Cash paid (348 ) (647 ) Impact of foreign currency translation 38 315 Balance, end of period $ 5,231 $ 8,506 The following table presents the Company’s 2016 Restructuring Initiative liability: Three Months Ended March 31, 2017 Balance, beginning of year $ 3,662 Reserve release (533 ) Impact of foreign currency translation 73 Balance, end of period $ 3,202 The following table presents the Company’s Acquisition Integration Restructuring Initiative liability: Three Months Ended March 31, 2017 Balance, beginning of year $ 1,764 Restructuring charges 707 Cash paid (590 ) Other 258 Balance, end of period $ 2,139 The following table presents the Company's total restructuring liability: Three Months Ended March 31, 2017 2016 Balance, beginning of year $ 10,657 $ 7,249 Restructuring charges 1,017 1,589 Reserve release (533 ) — Cash paid (938 ) (647 ) Other 258 — Impact of foreign currency translation 111 315 Balance, end of period $ 10,572 $ 8,506

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Reportable Segment Results	The following tables present the Company’s reportable segment results on an adjusted pre-tax net income before NCI basis: Fleet Payment Solutions Travel and Corporate Solutions Health and Employee Benefit Solutions Total Three Months Ended March 31, 2017 Payment processing revenue $ 86,262 $ 34,875 $ 15,241 $ 136,378 Account servicing revenue 36,069 155 25,315 61,539 Finance fee revenue 36,429 223 6,720 43,372 Other revenue 32,063 12,460 5,545 50,068 Total revenues $ 190,823 $ 47,713 $ 52,821 $ 291,357 Operating interest expense $ 1,324 $ 1,566 $ 1,958 $ 4,848 Depreciation and amortization $ 36,068 $ 3,038 $ 10,132 $ 49,238 Adjusted pre-tax income before NCI $ 51,232 $ 22,408 $ 10,236 $ 83,876 Three Months Ended March 31, 2016 Payment processing revenue $ 62,290 $ 34,626 $ 14,141 $ 111,057 Account servicing revenue 25,438 272 18,812 44,522 Finance fee revenue 21,938 75 1,493 23,506 Other revenue 11,408 10,169 5,266 26,843 Total revenues $ 121,074 $ 45,142 $ 39,712 $ 205,928 Operating interest expense $ 422 $ 552 $ 412 $ 1,386 Depreciation and amortization $ 13,608 $ 616 $ 8,040 $ 22,264 Adjusted pre-tax income before NCI $ 33,111 $ 20,148 $ 6,577 $ 59,836
Interest Income	The following table presents the Company's interest income by segment: Three Months Ended March 31, 2017 2016 Fleet Solutions $ 1,124 $ 884 Travel and Corporate Solutions 46 92 Health and Employee Benefit Solutions 6,859 1,495 Total interest income $ 8,029 $ 2,471
Reconciliation of Adjusted Net Income to Net Income	The following table reconciles income before income taxes to adjusted pre-tax income before NCI: Three Months Ended March 31, 2017 2016 Income before income taxes $ 43,611 $ 36,404 Unrealized (gains) losses on derivative instruments (1,565 ) 5,007 Net foreign currency remeasurement gain (8,442 ) (16,124 ) Acquisition and divestiture related items 40,114 27,945 Stock-based compensation 6,457 4,243 Restructuring and other costs 1,747 1,589 Debt issuance cost amortization 1,954 772 Adjusted pre-tax income before NCI $ 83,876 $ 59,836

Supplementary Regulatory Capi37

Supplementary Regulatory Capital Disclosure (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	WEX Bank’s actual and regulatory minimum capital amounts and ratios are presented in the following table: Actual Amount Ratio Minimum for Capital Adequacy Purposes Amount Ratio Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio March 31, 2017 Total Capital to risk-weighted assets $ 277,198 13.28 % $ 166,950 8.0 % $ 208,688 10.0 % Tier 1 Capital to average assets $ 262,264 12.57 % $ 83,475 4.0 % $ 104,344 5.0 % Common equity to risk-weighted assets $ 262,264 13.07 % $ 90,294 4.5 % $ 130,425 6.5 % Tier 1 Capital to risk-weighted assets $ 262,264 13.07 % $ 120,392 6.0 % $ 106,523 8.0 % December 31, 2016 Total Capital to risk-weighted assets $ 228,402 12.59 % $ 145,182 8.0 % $ 181,477 10.0 % Tier 1 Capital to average assets $ 214,847 11.10 % $ 77,413 4.0 % $ 96,767 5.0 % Common equity to risk-weighted assets $ 214,847 11.84 % $ 81,665 4.5 % $ 117,961 6.5 % Tier 1 Capital to risk-weighted assets $ 214,847 11.84 % $ 108,887 6.0 % $ 145,183 8.0 %

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment	[1]		$ 263
Excess tax benefits recognized		$ 1,600
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits recognized		$ 1,600
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment	[1]		$ 263
[1]	1Modified retrospective transition for ASU 2016-09 to recognize previously disallowed excess tax benefits that increased a net operating loss.

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales commissions	$ 5
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of consolidated revenue not affected by new accounting pronouncement	14.00%
Consolidated revenue affected by new accounting pronouncement, percent		48.00%

Business Acquisition - Summary

Business Acquisition - Summary of EFS Aquisition (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 01, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Allocation of the purchase price by the assets and liabilities acquired
Goodwill		$ 1,840,844		$ 1,840,844	$ 1,838,441
Electronic Funds Source LLC
Business Acquisition [Line Items]
Consideration transferred, shares (in shares)	4,012,000
Consideration transferred, shares, amount	$ 355,000
Percent of ownership interest acquired	9.40%
Payments to acquire businesses	$ 1,182,000
Consideration transferred	1,444,000
Cash acquired in acquisition	$ 93,000
Direct ownership in the limited liability company	49.50%
Direct ownership held by other corporation	50.50%
Goodwill, expected tax deductible amount		591,000		591,000
Allocation of the purchase price by the assets and liabilities acquired
Total consideration, net of cash acquired		1,444,235		1,444,235	1,444,235
Accounts receivable		162,684		162,684	162,684
Property and equipment		2,388		2,388	2,387
Measurement period adjustments, property and equipment		1
Deferred income tax assets		34,992		34,992	34,992
Accounts payable		(153,529)		(153,529)	(153,777)
Measurement period adjustments, accounts payable		248
Accrued expenses		(119,121)		(119,121)	(128,267)
Measurement period adjustments, accrued expenses		(9,146)
Deferred income tax liabilities		(91,194)		(91,194)	(91,194)
Goodwill		720,795		720,795	728,890
Measurement period adjustments, goodwill		(8,095)
Estimated amortization expense related to the definite-lived intangible assets
Remaining 2,017		64,032		64,032
2,018		80,987		80,987
2,019		74,548		74,548
2,020		68,685		68,685
2,021		60,654		60,654
2,022		53,537		53,537
Thereafter		427,408		427,408
Unaudited pro forma operational results
Total revenues			$ 240,297
Net earnings attributable to shareholders			$ 18,333
Pro forma net income attributable to shareholders per common share - basic (in dollars per share)			$ 0.43
Pro forma net income attributable to shareholders per common share - Diluted (in dollars per share)			$ 0.43
Electronic Funds Source LLC | Acquisition-related Costs
Unaudited pro forma operational results
Net earnings attributable to shareholders			$ 4,765
Electronic Funds Source LLC | Fleet Payment Solutions
Business Acquisition [Line Items]
Intangible Assets, Net (Including Goodwill)	$ 1,262,367
Estimated amortization expense related to the definite-lived intangible assets
Total revenues				43,375
Pre-tax adjusted net income				11,203
Electronic Funds Source LLC | Travel and corporate solutions
Business Acquisition [Line Items]
Intangible Assets, Net (Including Goodwill)	$ 345,648
Electronic Funds Source LLC | Customer relationships
Allocation of the purchase price by the assets and liabilities acquired
Intangible assets		841,400		841,400	842,700
Measurement period adjustments, intangibles		(1,300)
Weighted average life	8 years 1 month 6 days
Electronic Funds Source LLC | Developed technologies
Allocation of the purchase price by the assets and liabilities acquired
Intangible assets		32,120		32,120	32,120
Weighted average life	2 years
Electronic Funds Source LLC | Trade name
Allocation of the purchase price by the assets and liabilities acquired
Intangible assets		$ 13,700		$ 13,700	$ 13,700
Weighted average life	7 years 8 months 12 days

Reserves for Credit Losses - Ad

Reserves for Credit Losses - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)customer	Dec. 31, 2016USD ($)customer	Mar. 31, 2016
Concentration Risk [Line Items]
Trade receivable payments terms (30 days or less)	30 days
Threshold period past due for write-off of trade accounts receivable	150 days
Percentage of trade receivables outstanding balance, current	95.00%		90.00%
Percentage of trade accounts receivables less than 60 days past due	98.00%		98.00%
Customer Concentration Risk | Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Concentration Risk, Number of Customers | customer	0	1
Revolving Credit Facility
Concentration Risk [Line Items]
Loans receivable, net | $	$ 5,800	$ 3,400
Customer One | Customer Concentration Risk | Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage		11.00%

Reserves for Credit Losses - Ch

Reserves for Credit Losses - Changes in Reserves for Credit Losses Related to Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Receivables [Abstract]
Balance, beginning of year	$ 20,092	$ 13,832
Provision for credit losses	12,231	3,917
Charges to other accounts	2,939	0
Charge-offs	(13,369)	(7,036)
Recoveries of amounts previously charged-off	928	1,340
Currency translation	745	98
Balance, end of period	$ 23,566	$ 12,151

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation of Income and Share Data Used in Basic and Diluted Earnings Per Share Computations (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net earnings attributable to shareholders	$ 29,401	$ 23,086
Weighted average common shares outstanding – Basic (in shares)	42,871	38,756
Dilutive impact of share based compensation awards (in shares)	248	94
Weighted average common shares outstanding – Diluted (in shares)	43,119	38,850

Earnings per Share - Stock Opti

Earnings per Share - Stock Options and Restricted Stock Units (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) $ in Millions	Mar. 31, 2017USD ($)	Nov. 30, 2016agreement	Mar. 31, 2016
Interest rate swap agreements - unrealized portion
Derivative [Line Items]
Number of derivative instruments held | agreement		3
Borrowings under derivative agreements | $	$ 800
Interest rate swap agreements - unrealized portion | London Interbank Offered Rate (LIBOR) | Minimum
Derivative [Line Items]
Fixed rate variable interest		0.896%
Interest rate swap agreements - unrealized portion | London Interbank Offered Rate (LIBOR) | Maximum
Derivative [Line Items]
Fixed rate variable interest		1.125%
Price Risk Derivative
Derivative [Line Items]
Percentage hedged by fuel price derivatives			20.00%

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Notional Amounts of Interest Rate Swap Agreements (Details) - Derivatives Not Designated as Hedging Instruments $ in Thousands	Nov. 30, 2016USD ($)
Tranche A
Derivative [Line Items]
Notional amount	$ 400,000
Amortization	5.00%
Fixed interest rate	1.108%
Tranche B
Derivative [Line Items]
Notional amount	$ 150,000
Fixed interest rate	1.125%
Tranche C
Derivative [Line Items]
Notional amount	$ 250,000
Fixed interest rate	0.896%

Derivative Instruments - Summar

Derivative Instruments - Summary of Aggregate Notional Amount of Foreign Currency Swap Contracts (Details) NOK in Thousands, AUD in Thousands	Mar. 31, 2017NOK	Mar. 31, 2017AUD	Mar. 31, 2016NOK	Mar. 31, 2016AUD
Derivatives Not Designated as Hedging Instruments | Foreign currency swaps
Derivative [Line Items]
Notional amount	NOK 0	AUD 18,000	NOK 40,000	AUD 15,000

Derivative Instruments - Locati

Derivative Instruments - Location and Amounts of Derivative Fair Values in Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives Not Designated as Hedging Instruments | Interest rate swap agreements - unrealized portion | Other assets
Derivatives, Fair Value [Line Items]
Derivatives Classified as Assets	$ 14,473	$ 12,908

Derivative Instruments - Loca49

Derivative Instruments - Location and Amounts of Derivative Gains and Losses in Condensed Consolidated Statements of Income (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net realized and unrealized gain on fuel price derivatives | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized in income on derivative	$ 0	$ 711
Net unrealized gains on interest rate swap agreements | Interest rate swap agreements
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized in income on derivative	1,565	0
Financing interest expense | Interest rate swap agreements
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized in income on derivative	$ (543)	$ 0

Financing and Other Debt - Addi

Financing and Other Debt - Additional Information (Details)	Jul. 01, 2016USD ($)	Apr. 07, 2016	Apr. 28, 2015	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Nov. 30, 2016agreement	Jan. 30, 2013USD ($)
Debt Instrument [Line Items]
Lines of credit				$ 1,795,640,000	$ 1,599,291,000
Maximum borrowing capacity					250,000,000
Securitized debt				$ 92,676,000	$ 84,323,000
Unik
Debt Instrument [Line Items]
Weighted average annual interest rate, percent				24.10%	19.70%
Outstanding debt				$ 12,699,000	$ 30,755,000
Interest rate swap agreements - unrealized portion
Debt Instrument [Line Items]
Number of derivative instruments held | agreement						3
Interest Rate Option Two | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	1.00%
Interest Rate Option Two | Federal Fund Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	0.50%
2016 Credit Agreement Tranche A
Debt Instrument [Line Items]
Permitted securitization transactions	$ 350,000
2016 Credit Agreement Tranche A | Interest Rate Option One | Eurocurrency Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, floor	0.00%
2016 Credit Agreement Tranche A | Interest Rate Option One | Minimum | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	1.75%
2016 Credit Agreement Tranche A | Interest Rate Option One | Maximum | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	3.25%			2.75%
2016 Credit Agreement Tranche A | Interest Rate Option Two | Minimum | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	0.75%
2016 Credit Agreement Tranche A | Interest Rate Option Two | Maximum | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	2.25%			1.75%
2016 Credit Agreement Tranche B
Debt Instrument [Line Items]
Weighted average annual interest rate, percent				4.40%	4.20%
Debt instrument unamortized discount, percent	1.00%
2016 Credit Agreement Tranche B | Interest Rate Option One | Eurocurrency Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, floor	0.75%
2016 Credit Agreement Tranche B | Interest Rate Option One | Minimum | Eurocurrency Rate
Debt Instrument [Line Items]
Interest rate, stated percentage	3.25%
2016 Credit Agreement Tranche B | Interest Rate Option One | Maximum | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	3.50%			3.50%
2016 Credit Agreement Tranche B | Interest Rate Option Two | Minimum | Eurocurrency Rate
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%
2016 Credit Agreement Tranche B | Interest Rate Option Two | Maximum | Eurocurrency Rate
Debt Instrument [Line Items]
Margin on variable rate, percent	2.50%			2.50%
Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage							4.75%
Senior notes							$ 400,000,000
2016 Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity				$ 0
2016 Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.30%
2016 Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.50%			0.45%
Loan Participations and Assignments
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount				$ 95,000,000	$ 95,000
Loan Participations and Assignments | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Margin on variable rate, percent				2.25%
Loan Participations and Assignments | Minimum
Debt Instrument [Line Items]
Range of daily balance				$ 0
Loan Participations and Assignments | Maximum
Debt Instrument [Line Items]
Range of daily balance				95,000,000
Loan Participations and Assignments, Amounts Maturing August 2017
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount				50,000,000
Loan Participations and Assignments, Amounts Maturing December 2020
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount				$ 45,000,000
Securitization Facility
Debt Instrument [Line Items]
Term of securitization facility			1 year
Securitization facility, percentage of receivables used as collateral			85.00%
Interest rate during period, percent				2.68%	2.65%
Securitized debt				$ 86,327,000	$ 78,592,000
European Securitization Facility
Debt Instrument [Line Items]
Interest rate during period, percent				0.94%	0.95%
Debt instrument, term		5 years
Securitized debt				$ 6,349,000	$ 5,731,000
Revolving Credit Facility | Two Thousand And Eleven Credit Agreement [Member] | Letter of Credit
Debt Instrument [Line Items]
Lines of credit				13,350,000	13,350,000
Revolving Credit Facility | 2016 Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 470,000,000
Lines of credit				203,302,000
Credit Facility Term Loans | 2016 Credit Agreement Tranche A
Debt Instrument [Line Items]
Current borrowing capacity	925,000,000
Credit Facility Term Loans | 2016 Credit Agreement Tranche B
Debt Instrument [Line Items]
Current borrowing capacity	$ 1,200,000,000
Lines of credit				$ 1,628,938,000
Line of Credit
Debt Instrument [Line Items]
Lines of credit					$ 0

Financing and Other Debt - Sche

Financing and Other Debt - Schedule of Debt Issuance Cost (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Notes outstanding
Line of Credit Facility [Line Items]
Debt issuance costs, net	$ 4,282	$ 4,466
Revolving line of credit facilities and term loans
Line of Credit Facility [Line Items]
Debt issuance costs, net	$ 36,600	$ 38,334

Factoring (Details)

Factoring (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
WEX Europe Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from sale of factoring receivables	$ 53,000
Loss on sale of factoring receivables	200
Amount of factoring receivables	400
Amount of factoring receivables, portion in excess of the established credit limit	200
WEX Brazil
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from sale of factoring receivables	8,000
Loss on sale of factoring receivables	$ 400

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value and Related Hierarchy Levels (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets:
Total available-for-sale securities	$ 23,413	$ 23,525
Level 2 | Interest rate swap agreements
Assets:
Derivative asset	14,473	12,908
Level 1
Assets:
Executive deferred compensation plan trust	6,716	5,673
Municipal bonds | Level 2
Assets:
Total available-for-sale securities	596	682
Asset-backed securities | Level 2
Assets:
Total available-for-sale securities	514	648
Mortgage-backed securities | Level 2
Assets:
Total available-for-sale securities	484	490
Fixed-income mutual fund | Level 1
Assets:
Total available-for-sale securities	$ 21,819	$ 21,705

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Senior Notes | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 400,000	$ 400
Senior Notes | Estimate of Fair Value Measurement | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	394,000	$ 390,000
Revolving Credit Facility | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	1,832,240
Revolving Credit Facility | Estimate of Fair Value Measurement | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 1,846,481

Accumulated Other Comprehensi55

Accumulated Other Comprehensive Loss - Reconciliation of Accumulated Other Comprehensive Loss (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 1,505,747,000	$ 1,095,681,000
Ending balance	1,549,218,000	1,131,323,000
Unrealized Gains and Losses on Available- for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(463,000)	(212,000)
Other comprehensive income	3,000	164,000
Ending balance	(460,000)	(48,000)
Tax effect on accumulated unrealized losses	5,842,000	3,821,000
Amounts reclassified from accumulated other comprehensive income	0	0
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(122,376,000)	(103,239,000)
Other comprehensive income	16,578,000	10,318,000
Ending balance	(105,798,000)	(92,921,000)
Amounts reclassified from accumulated other comprehensive income	$ 0	$ 0

Non-Controlling Interest - Addi

Non-Controlling Interest - Additional Information (Details)	Dec. 31, 2013
WEX Europe Services
Noncontrolling Interest [Line Items]
Percent of ownership interest acquired	75.00%

Non-Controlling Interest - Rede

Non-Controlling Interest - Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of year	$ 8,558
Net (loss) gain attributable to non-controlling interest	(325)	$ 135
Balance, end of period	8,275
WEX Europe Services
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of year	8,558	12,437
Net (loss) gain attributable to non-controlling interest	(325)	135
Currency translation adjustment	42	456
Balance, end of period	$ 8,275	$ 13,028

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	33.30%	36.20%
Excess tax benefits recognized	$ 1,600
Undistributed earnings of certain foreign subsidiaries	$ 29,722		$ 25,824

Restructuring - Additional Info

Restructuring - Additional Information (Details) $ in Thousands	Mar. 31, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred to date	$ 18,357
Acquisition Integration Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	$ 450

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Reserve
Restructuring charges	$ 484	$ 1,589
Excluding Acquisition Integration Restructuring Initiative
Restructuring Reserve
Balance, beginning of year	10,657	7,249
Restructuring charges	1,017	1,589
Reserve release	(533)	0
Cash paid	(938)	(647)
Other	258	0
Impact of foreign currency translation	111	315
Balance, end of period	10,572	8,506
Year 2,015
Restructuring Reserve
Balance, beginning of year	5,231	7,249
Restructuring charges	310	1,589
Cash paid	(348)	(647)
Impact of foreign currency translation	38	315
Balance, end of period	5,231	$ 8,506
Year 2,016
Restructuring Reserve
Balance, beginning of year	3,662
Reserve release	(533)
Impact of foreign currency translation	73
Balance, end of period	3,202
Acquisition Integration Restructuring Initiative
Restructuring Reserve
Balance, beginning of year	1,764
Restructuring charges	707
Cash paid	(590)
Other	258
Balance, end of period	$ 2,139

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2017USD ($)segment	Mar. 31, 2016USD ($)
Segment Reporting [Abstract]
Goodwill and intangible asset impairment | $	$ 0	$ 0
Number of reportable segments | segment	3

Segment Information - Pre-Tax I

Segment Information - Pre-Tax Income Before NCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Payment processing revenue	$ 136,378	$ 111,057
Account servicing revenue	61,539	44,522
Finance fee revenue	43,372	23,506
Other revenue	50,068	26,843
Total revenues	291,357	205,928
Operating interest expense	4,848	1,386
Depreciation and amortization	49,238	22,264
Adjusted pre-tax income before NCI	83,876	59,836
Fleet Payment Solutions
Segment Reporting Information [Line Items]
Payment processing revenue	86,262	62,290
Account servicing revenue	36,069	25,438
Finance fee revenue	36,429	21,938
Other revenue	32,063	11,408
Total revenues	190,823	121,074
Operating interest expense	1,324	422
Depreciation and amortization	36,068	13,608
Adjusted pre-tax income before NCI	51,232	33,111
Travel and Corporate Solutions
Segment Reporting Information [Line Items]
Payment processing revenue	34,875	34,626
Account servicing revenue	155	272
Finance fee revenue	223	75
Other revenue	12,460	10,169
Total revenues	47,713	45,142
Operating interest expense	1,566	552
Depreciation and amortization	3,038	616
Adjusted pre-tax income before NCI	22,408	20,148
Health and Employee Benefit Solutions
Segment Reporting Information [Line Items]
Payment processing revenue	15,241	14,141
Account servicing revenue	25,315	18,812
Finance fee revenue	6,720	1,493
Other revenue	5,545	5,266
Total revenues	52,821	39,712
Operating interest expense	1,958	412
Depreciation and amortization	10,132	8,040
Adjusted pre-tax income before NCI	$ 10,236	$ 6,577

Segment Information - Summary o

Segment Information - Summary of Interest Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Interest Income	$ 8,029	$ 2,471
Fleet Payment Solutions
Segment Reporting Information [Line Items]
Interest Income	1,124	884
Travel and corporate solutions
Segment Reporting Information [Line Items]
Interest Income	46	92
Health and Employee Benefit Solutions
Segment Reporting Information [Line Items]
Interest Income	$ 6,859	$ 1,495

Segment Information - Reconcili

Segment Information - Reconciliation of Adjusted Pre-Tax Income Before NCI to Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting [Abstract]
Income before income taxes	$ 43,611	$ 36,404
Changes in unrealized fuel price derivatives	(1,565)	5,007
Net foreign currency gain	(8,442)	(16,124)
Acquisition and divestiture related items	40,114	27,945
Stock-based compensation	6,457	4,243
Restructuring and other costs	1,747	1,589
Debt issuance cost amortization	1,954	772
Adjusted pre-tax income before NCI	$ 83,876	$ 59,836

Supplementary Regulatory Capi65

Supplementary Regulatory Capital Disclosure (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Total Capital to risk-weighted assets, Actual Amount	$ 277,198	$ 228,402
Total Capital to risk-weighted assets, Ratio	13.28%	12.59%
Total Capital to risk-weighted assets, Minimum for Capital Adequacy Purposes Amount	$ 166,950	$ 145,182
Total Capital to risk-weighted assets, Ratio	8.00%	8.00%
Total Capital to risk-weighted assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 208,688	$ 181,477
Total Capital to risk-weighted assets, Ratio	10.00%	10.00%
Tier 1 Capital to average assets, Actual Amount	$ 262,264	$ 214,847
Tier 1 Capital to average assets, Ratio	12.57%	11.10%
Tier 1 Capital to average assets, Minimum for Capital Adequacy Purposes Amount	$ 83,475	$ 77,413
Tier 1 Capital to average assets, Ratio	4.00%	4.00%
Tier 1 Capital to average assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 104,344	$ 96,767
Tier 1 Capital to average assets, Ratio	5.00%	5.00%
Common equity to risk-weighted assets, Actual Amount	$ 262,264	$ 214,847
Common equity to risk-weighted assets, Ratio	13.07%	11.84%
Common equity to risk-weighted assets, Minimum for Capital Adequacy Purposes Amount	$ 90,294	$ 81,665
Common equity to risk-weighted assets, Ratio	4.50%	4.50%
Common equity to risk-weighted assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 130,425	$ 117,961
Common equity to risk-weighted assets, Ratio	6.50%	6.50%
Tier 1 Capital to risk-weighted assets, Actual Amount	$ 262,264	$ 214,847
Tier 1 Capital to risk-weighted assets, Ratio	13.07%	11.84%
Tier 1 Capital to risk-weighted assets, Minimum for Capital Adequacy Purposes Amount	$ 120,392	$ 108,887
Tier 1 Capital to risk-weighted assets, Ratio	6.00%	6.00%
Tier 1 Capital to risk-weighted assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 106,523	$ 145,183
Tier 1 Capital to risk-weighted assets, Ratio	8.00%	8.00%