Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - WEX Inc. | d470565d8k.htm |
| EX-99.3 - SELECTED HISTORICAL FINANCIAL AND OPERATING INFORMATION - WEX Inc. | d470565dex993.htm |
| EX-99.2 - RISK FACTORS - WEX Inc. | d470565dex992.htm |
| EX-99.1 - DESCRIPTION OF BUSINESS - WEX Inc. | d470565dex991.htm |
Exhibit 99.4
WEX Inc.
Unaudited Consolidated Statements of Comprehensive Income
(In Thousands)
| Year Ended December 31, | ||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | |||||||||||||
| Total revenues |
$ | 553,076 | $ | 390,406 | $ | 315,203 | $ | 388,159 | ||||||||
| Salary and other personnel |
104,610 | 87,364 | 75,123 | 66,969 | ||||||||||||
| Service fees |
70,202 | 46,368 | 27,666 | 20,361 | ||||||||||||
| Provision for credit losses |
27,527 | 19,838 | 17,715 | 45,021 | ||||||||||||
| Technology leasing and support |
15,423 | 12,881 | 9,327 | 8,510 | ||||||||||||
| Occupancy and equipment |
11,803 | 8,654 | 8,718 | 9,159 | ||||||||||||
| Advertising |
9,713 | 8,118 | 4,974 | 5,283 | ||||||||||||
| Marketing |
3,240 | 2,197 | 2,737 | 3,215 | ||||||||||||
| Postage and shipping |
4,325 | 3,413 | 3,105 | 3,248 | ||||||||||||
| Communications |
5,115 | 3,631 | 2,703 | 2,527 | ||||||||||||
| Depreciation and amortization |
45,369 | 29,893 | 21,930 | 20,123 | ||||||||||||
| Operating interest expense |
5,453 | 5,370 | 10,253 | 29,570 | ||||||||||||
| Other |
16,972 | 11,970 | 12,802 | 12,741 | ||||||||||||
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| Total operating expenses |
319,752 | 239,697 | 197,053 | 226,727 | ||||||||||||
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| Operating income |
233,324 | 150,709 | 118,150 | 161,432 | ||||||||||||
| Financing interest expense |
(11,676 | ) | (5,314 | ) | (6,210 | ) | (11,859 | ) | ||||||||
| Net (loss) gain on foreign currency transactions |
(459 | ) | 7,145 | (40 | ) | — | ||||||||||
| Net (loss) gain on extinguishment of debt |
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| Gain on settlement of portion of amounts due under tax receivable agreement |
— | — | 136,485 | — | ||||||||||||
| Net realized and unrealized losses on fuel price derivatives |
(11,869 | ) | (7,244 | ) | (22,542 | ) | 55,206 | |||||||||
| Decrease in tax refund due to former shareholder of RD Card Holdings Australia |
— | — | — | — | ||||||||||||
| Increase in amount due under tax receivable agreement |
(715 | ) | (214 | ) | (599 | ) | (9,014 | ) | ||||||||
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| Income before income taxes |
208,605 | 145,082 | 225,244 | 195,765 | ||||||||||||
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| Income taxes |
74,983 | 57,453 | 85,585 | 68,125 | ||||||||||||
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| Net income before noncontrolling interest |
133,622 | 87,629 | 139,659 | 127,640 | ||||||||||||
| Less: Net earnings from noncontrolling interest |
— | — | — | — | ||||||||||||
| Net earnings attributable to WEX Inc. |
$ | 133,622 | $ | 87,629 | $ | 139,659 | $ | 127,640 | ||||||||
| Changes in available-for-sale securities, net of tax |
108 | 69 | 76 | (4 | ) | |||||||||||
| Changes in interest rate swaps, net of tax |
308 | (192 | ) | 1,560 | (319 | ) | ||||||||||
| Foreign currency translation |
2,567 | 28,015 | (79 | ) | (70 | ) | ||||||||||
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| Comprehensive income attributable to WEX Inc. |
$ | 136,605 | $ | 115,521 | $ | 141,216 | $ | 127,247 | ||||||||
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