Euronet Worldwide 10-Q: Debt, Guarantees, and Financials

TL;DR

Euronet's Q2 10-Q shows debt like 2026 Senior Notes & 2049 Convertible Notes, plus guarantees. Financials look stable.

AI Summary

Euronet Worldwide, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Key financial instruments mentioned include Senior Notes due 2026 and Convertible Notes due 2049, indicating ongoing debt management and capital structure considerations.

Why It Matters

This filing provides insight into Euronet's financial health and its management of debt obligations, which can impact investor confidence and future growth prospects.

Risk Assessment

Risk Level: medium — The filing mentions various financial instruments and guarantees, which inherently carry financial risks that need careful monitoring by investors.

Key Numbers

• 2026 — Senior Notes Maturity (Indicates a specific debt maturity date.)
• 2049 — Convertible Notes Maturity (Indicates a long-term debt maturity date.)

Key Players & Entities

• EURONET WORLDWIDE, INC. (company) — Filer of the 10-Q
• 2026 (date) — Maturity year for Senior Notes
• 2049 (date) — Maturity year for Convertible Notes
• 6099 (dollar_amount) — Standard Industrial Classification code

FAQ

Filing Documents

• eeft-20240630.htm (10-Q) — 2493KB
• ex311_1.htm (EX-31.1) — 14KB
• ex312_2.htm (EX-31.2) — 21KB
• ex321_3.htm (EX-32.1) — 7KB
• ex322_4.htm (EX-32.2) — 7KB
• 0001213900-24-064727.txt ( ) — 10381KB
• eeft-20240630_def.xml (EX-101.DEF) — 291KB
• eeft-20240630_pre.xml (EX-101.PRE) — 487KB
• eeft-20240630_cal.xml (EX-101.CAL) — 121KB
• eeft-20240630_lab.xml (EX-101.LAB) — 897KB
• eeft-20240630.xsd (EX-101.SCH) — 53KB
• eeft-20240630_htm.xml (XML) — 1832KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 3 Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2024 and 2023 4 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 6 Notes to the Unaudited Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 41

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 5 Other Information 42 Item 6. Exhibits 43

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

. FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1 . FINANCIAL STATEMENTS (UNAUDITED) EURONET WORLDWIDE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except share and per share data) As of June 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,271.8 $ 1,254.2 ATM cash 795.6 525.2 Rest ricted cas h 23.8 15.2 Settlement assets 1,478.3 1,681.5 Trade accounts receivable, net of credit losses of $ 3.7 and $ 3.6 428.1 370.6 Prepaid expenses and other current assets 268.9 316.0 Total current assets 4,266.5 4,162.7 Operating right of use lease assets 144.3 142.6 Property and equipment, net of accumulated depreciation of $ 616.6 and $ 656.9 331.1 332.1 Goodwill 877.5 847.5 Acquired intangible assets, net of accumulated amortization of $ 221.4 and $ 214.1 200.7 167.6 Other assets, net of accumulated amortization of $ 79.3 and $ 76.3 179.9 181.9 Convertible notes receivable 60.8 60.0 Total assets $ 6,060.8 $ 5,894.4 LIABILITIES AND EQUITY Current liabilities: Settlement obligations $ 1,478.3 $ 1,681.5 Trade accounts payable 268.4 241.2 Accrued expenses and other current liabilities 403.0 439.0 Current portion of operating lease liabilities 50.9 50.3 Short-term debt obligations and current maturities of long-term debt obligations 1,233.8 150.3 Income taxes payable 80.9 81.6 Deferred revenue 56.3 56.7 Total current liabilities 3,571.6 2,700.6 Debt obligations, net of current portion 1,032.7 1,715.4 Operating lease obligations, net of current portion 97.2 95.8 Deferred income taxes 62.9 47.0 Other long-term liabilities 82.8 85.9 Total liabilities 4,847.2 4,644.7 Equity: Euronet Worldwide, Inc. stockholders' equity: Preferred Stock, $ 0.02 par value. 10,000,000 shares authorized; none issued — — Common Stock, $ 0.02 par value. 90,000,000 shares authorized;

View Full Filing

View this 10-Q filing on SEC EDGAR