WEX Inc
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 20, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets at and
| Table of Contents | PART II |
|---|
WEX INC. CONSOLIDATED BALANCE SHEETS
(in millions, except per share data)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Cash and cash equivalents(1) | $595.8 | $975.8 |
| Restricted cash | 837.8 | 1,254.2 |
| Accounts receivable, net | 3,008.6 | 3,428.5 |
| Investment securities | 3,764.7 | 3,022.1 |
| Securitized accounts receivable, restricted(1) | 109.6 | 129.4 |
| Prepaid expenses and other current assets | 199.0 | 125.3 |
| Total current assets | 8,515.5 | 8,935.3 |
| Property, equipment and capitalized software | 261.2 | 242.9 |
| Goodwill | 2,983.4 | 3,015.7 |
| Other intangible assets | 1,260.0 | 1,458.7 |
| Investment securities | 80.5 | 66.8 |
| Deferred income taxes, net | 18.3 | 13.7 |
| Other assets | 202.8 | 149.0 |
| Total assets | $13,321.6 | $13,882.1 |
| Liabilities and Stockholders’ Equity | ||
| Accounts payable | $1,090.9 | $1,479.1 |
| Accrued expenses and other current liabilities | 653.6 | 802.7 |
| Restricted cash payable | 837.0 | 1,253.5 |
| Short-term deposits | 4,452.7 | 3,942.8 |
| Short-term debt, net(1) | 1,293.2 | 1,041.1 |
| Total current liabilities | 8,327.3 | 8,519.2 |
| Long-term debt, net | 3,082.1 | 2,827.5 |
| Long-term deposits | — | 129.8 |
| Deferred income taxes, net | 145.6 | 129.5 |
| Other liabilities | 277.7 | 455.5 |
| Total liabilities | 11,832.8 | 12,061.5 |
| Commitments and contingencies (Note 20) | ||
| Stockholders’ Equity | ||
| Common stock $0.01 par value; 175.0 shares authorized; 50.3 shares issued in 2024 and 49.9 in 2023; 39.0 shares outstanding in 2024 and 41.9 in 2023 | 0.5 | 0.5 |
| Additional paid-in capital | 1,149.7 | 1,053.0 |
| Retained earnings | 2,066.8 | 1,757.1 |
| Accumulated other comprehensive loss | (312.3) | (229.2) |
| Treasury stock at cost; 11.3 and 8.0 shares in 2024 and 2023, respectively | (1,416.0) | (760.8) |
| Total stockholders’ equity | 1,488.8 | 1,820.6 |
| Total liabilities and stockholders’ equity | $13,321.6 | $13,882.1 |
(1) The Company’s consolidated balance sheets include assets and liabilities of consolidated VIEs. See Note 1, Basis of Presentation and Summary of Significant Accounting Policies and Note 16, Financing and Other Debt for further details.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.