$CPAY
CORPAY, INC.

2014 Q1 Form 10-Q Financial Statement

#000119312514195101 Filed on May 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $253.9M $255.5M $193.7M
YoY Change 31.12% 26.1% 32.49%
Cost Of Revenue $17.60M $17.80M $13.90M
YoY Change 26.62% 1.14% 33.65%
Gross Profit $236.3M $237.7M $179.8M
YoY Change 31.42% 28.49% 32.4%
Gross Profit Margin 93.07% 93.03% 92.85%
Selling, General & Admin $60.88M $107.5M $40.97M
YoY Change 48.6% 40.16% 20.49%
% of Gross Profit 25.76% 45.23% 22.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.801M $22.50M $4.031M
YoY Change 19.1% 64.23% 29.24%
% of Gross Profit 2.03% 9.47% 2.24%
Operating Expenses $60.88M $131.7M $40.97M
YoY Change 48.6% 43.46% 20.49%
Operating Profit $114.1M $106.1M $94.25M
YoY Change 21.1% 13.82% 46.19%
Interest Expense -$5.500M -$5.500M $3.448M
YoY Change -259.51% 61.76% -3.23%
% of Operating Profit -4.82% -5.19% 3.66%
Other Income/Expense, Net -$6.005M -$500.0K -$292.0K
YoY Change 1956.51% -16.67% -50.34%
Pretax Income $108.1M $100.1M $90.51M
YoY Change 19.46% 12.22% 50.04%
Income Tax $33.02M $32.00M $25.85M
% Of Pretax Income 30.54% 31.97% 28.56%
Net Earnings $75.11M $68.12M $64.66M
YoY Change 16.16% 13.4% 53.67%
Net Earnings / Revenue 29.58% 26.66% 33.39%
Basic Earnings Per Share $0.91 $0.83 $0.80
Diluted Earnings Per Share $0.88 $0.80 $0.77
COMMON SHARES
Basic Shares Outstanding 82.74M shares 82.39M shares 81.22M shares
Diluted Shares Outstanding 85.70M shares 85.28M shares 83.96M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $283.0M $338.0M $225.0M
YoY Change 25.78% 19.01% -21.6%
Cash & Equivalents $283.4M $338.1M $224.6M
Short-Term Investments
Other Short-Term Assets $112.0M $93.00M $82.00M
YoY Change 36.59% 5.68% 3.8%
Inventory
Prepaid Expenses
Receivables $682.8M $573.4M $626.5M
Other Receivables $393.0M $349.0M $385.0M
Total Short-Term Assets $1.471B $1.354B $1.318B
YoY Change 11.63% 13.23% 0.85%
LONG-TERM ASSETS
Property, Plant & Equipment $54.89M $53.96M $45.89M
YoY Change 19.61% 19.38% 34.98%
Goodwill $1.562B $1.536B $973.3M
YoY Change 60.43% 65.73%
Intangibles $860.9M $871.3M $502.1M
YoY Change 71.46% 87.83%
Long-Term Investments
YoY Change
Other Assets $87.99M $100.8M $50.99M
YoY Change 72.57% 10.93% -38.57%
Total Long-Term Assets $2.565B $2.579B $1.572B
YoY Change 63.15% 68.93% 25.38%
TOTAL ASSETS
Total Short-Term Assets $1.471B $1.354B $1.318B
Total Long-Term Assets $2.565B $2.579B $1.572B
Total Assets $4.037B $3.932B $2.890B
YoY Change 39.66% 44.47% 12.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $578.5M $467.2M $501.0M
YoY Change 15.46% 11.61% -6.17%
Accrued Expenses $111.3M $114.9M $61.38M
YoY Change 81.28% 51.52% 53.46%
Deferred Revenue
YoY Change
Short-Term Debt $394.0M $0.00 $385.0M
YoY Change 2.34% -100.0% 12.9%
Long-Term Debt Due $926.4M $1.011B $507.4M
YoY Change 82.58% 129.94% 183.45%
Total Short-Term Liabilities $1.910B $1.909B $1.240B
YoY Change 54.06% 67.12% -2.38%
LONG-TERM LIABILITIES
Long-Term Debt $459.9M $474.9M $492.0M
YoY Change -6.52% -2.12% 78.9%
Other Long-Term Liabilities $52.46M $55.00M
YoY Change
Total Long-Term Liabilities $760.4M $779.4M $667.5M
YoY Change 13.92% 17.06% 142.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.910B $1.909B $1.240B
Total Long-Term Liabilities $760.4M $779.4M $667.5M
Total Liabilities $2.671B $2.688B $1.907B
YoY Change 40.01% 48.69% 13.67%
SHAREHOLDERS EQUITY
Retained Earnings $1.110B $1.035B $815.4M
YoY Change 36.17% 37.9%
Common Stock $118.0K $117.0K $116.0K
YoY Change 1.72% 0.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $375.7M $375.7M $375.7M
YoY Change 0.0% 0.0%
Treasury Stock Shares 35.73M shares 35.73M shares 35.73M shares
Shareholders Equity $1.366B $1.224B $983.0M
YoY Change
Total Liabilities & Shareholders Equity $4.037B $3.932B $2.890B
YoY Change 39.66% 44.47% 12.86%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $75.11M $68.12M $64.66M
YoY Change 16.16% 13.4% 53.67%
Depreciation, Depletion And Amortization $4.801M $22.50M $4.031M
YoY Change 19.1% 64.23% 29.24%
Cash From Operating Activities $51.50M $167.7M -$13.69M
YoY Change -476.19% 63.77% -87.98%
INVESTING ACTIVITIES
Capital Expenditures $5.584M -$5.500M $4.762M
YoY Change 17.26% 0.0% 33.65%
Acquisitions $19.29M $94.77M
YoY Change -79.64% 947630.0%
Other Investing Activities -$19.30M -$351.3M -$94.80M
YoY Change -79.64% 58450.0%
Cash From Investing Activities -$24.90M -$356.8M -$99.54M
YoY Change -74.98% 5749.18% 2685.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.512M $5.256M
YoY Change -14.16% -32.07%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.90M 182.1M 63.59M
YoY Change -227.22% -259.46% -43.3%
NET CHANGE
Cash From Operating Activities 51.50M 167.7M -13.69M
Cash From Investing Activities -24.90M -356.8M -99.54M
Cash From Financing Activities -80.90M 182.1M 63.59M
Net Change In Cash -54.30M -7.000M -49.63M
YoY Change 9.4% -60.89% 826.35%
FREE CASH FLOW
Cash From Operating Activities $51.50M $167.7M -$13.69M
Capital Expenditures $5.584M -$5.500M $4.762M
Free Cash Flow $45.92M $173.2M -$18.45M
YoY Change -348.84% 60.52% -84.3%

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