v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ (1,750,128) $ 558,870
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 244,072 225,105
Amortization of acquired intangibles 1,504,738 551,074
Amortization of capitalized contract costs 51,796 66,966
Share-based compensation expense 57,193 79,550
Provision for operating losses and credit losses 72,783 41,880
Noncash lease expense 35,612 25,163
Deferred income taxes (881,242) 95,584
Paid-in-kind interest capitalized to principal of notes receivable (33,396) (38,961)
Equity in income of equity method investments, net of tax (41,531) (38,299)
Distributions received on investments 0 7,512
Impairment of goodwill 0 33,218
Gain on business disposition (22,174) (4,260)
Other, net 49,937 19,621
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable (141,531) (102,565)
Prepaid expenses and other assets (288,990) (124,058)
Income taxes payable 2,333,824 (15,461)
Accounts payable and other liabilities (817,165) (8,290)
Net cash provided by operating activities 373,798 1,372,649
Cash flows from investing activities:    
Business combinations and other acquisitions, net of cash and restricted cash acquired (1,421,470) (205,825)
Capital expenditures (497,000) (279,747)
Principal payment received on notes receivable 8,750 8,750
Net cash from sales of businesses 7,362,347 0
Net cash provided by (used in) investing activities 5,452,627 (476,822)
Cash flows from financing activities:    
Changes in funds held for customers (24,077) (118,967)
Changes in settlement processing assets and obligations, net (694,176) 630,244
Net borrowings from settlement lines of credit 827,464 87,551
Net borrowings from commercial paper notes 674,393 797,732
Proceeds from long-term debt 9,331,133 2,755,112
Repayments of long-term debt (18,055,394) (3,769,614)
Payments of debt issuance costs (9,798) (40,512)
Repurchases of common stock (1,099,942) (691,089)
Proceeds from stock issued under share-based compensation plans 12,331 16,244
Common stock repurchased - share-based compensation plans (33,795) (37,372)
Distributions to noncontrolling interests (37,781) (30,095)
Dividends paid (134,717) (121,501)
Net cash used in financing activities (9,244,359) (522,267)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,586) 230,353
Increase (decrease) in cash, cash equivalents and restricted cash (3,423,520) 603,913
Cash, cash equivalents and restricted cash, beginning of the period 9,116,414 2,735,975
Cash, cash equivalents and restricted cash, end of the period $ 5,692,894 $ 3,339,888