| |
December 31, |
| |
2020 |
2019 |
| |
(In thousands, except share and per share amounts) |
| ASSETS |
|
|
| Current assets: |
|
|
| Cash and cash equivalents |
105,035 |
73,228 |
| Receivables from service providers |
4,711 |
25,607 |
| Short-term investments |
25,019 |
4,443 |
| Restricted cash |
8,519 |
35,051 |
| Fiduciary funds - restricted |
4,106 |
4,966 |
| Trade accounts receivable, less allowances of 22,691 and 21,696, respectively |
142,847 |
153,565 |
| Other current assets |
71,661 |
67,074 |
| Total current assets |
361,898 |
363,934 |
| Property and equipment, net |
52,521 |
48,421 |
| Right-of-use assets |
12,372 |
19,544 |
| Goodwill |
949,037 |
952,404 |
| Intangibles, net |
50,880 |
46,955 |
| Indefinite-lived intangibles |
21,647 |
42,055 |
| Capitalized software development costs, net |
19,389 |
19,183 |
| Deferred tax assets, net |
63,402 |
69,227 |
| Other assets |
38,707 |
29,896 |
| Total assets |
$1,569,853 |
$1,591,619 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
| Current liabilities: |
|
|
| Accounts payable and accrued liabilities |
$64,764 |
$84,735 |
| Payables to service agents |
5,281 |
12,196 |
| Accrued payroll and related benefits |
11,792 |
8,755 |
| Working capital facilities |
16,643 |
28,352 |
| Fiduciary funds - restricted |
4,106 |
4,966 |
| Short-term debt |
894 |
1,167 |
| Contingent liability for earn-out acquisition consideration |
— |
8,621 |
| Current portion of long-term debt, net of deferred financing costs of $920 and $575 thousand, respectively |
23,621 |
22,091 |
| Contract liabilities |
32,898 |
28,712 |
| Lease liability |
3,905 |
5,955 |
| Other current liabilities |
27,486 |
29,335 |
| Total current liabilities |
191,390 |
234,885 |
| Revolving line of credit |
439,402 |
438,037 |
| Long-term debt, less current portion, net of deferred financing costs of $1,062 and $1,534, respectively |
232,140 |
254,467 |
| Contingent liability for earn-out acquisition consideration |
— |
1,474 |
| Contract liabilities |
8,033 |
8,541 |
| Lease liability |
8,540 |
13,196 |
| Deferred tax liability, net |
1,235 |
1,235 |
| Other liabilities |
29,009 |
40,339 |
| Total liabilities |
909,749 |
992,174 |
| Commitments and Contingencies, Note 5 |
|
|
| |
| Stockholders’ equity: |
|
|
| Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2020 and 2019 |
— |
— |
| Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at December 31, 2020 and no shares authorized, issued and outstanding at December 31, 2019 |
— |
— |
| Common stock, $.10 par value, 220,000,000 shares authorized, 30,515,334 issued and outstanding at December 31, 2020 and 30,492,044 issued and outstanding at December 31, 2019 |
3,052 |
3,049 |
| Additional paid-in capital |
11,126 |
6,960 |
| Retained earnings |
700,304 |
618,503 |
| Accumulated other comprehensive loss |
(101,503) |
(78,398) |
| Total Ebix, Inc. stockholders’ equity |
612,979 |
550,114 |
| Noncontrolling interest (see Note 17) |
47,125 |
49,331 |
| Total stockholders' equity |
660,104 |
599,445 |
| Total liabilities and stockholders’ equity |
$1,569,853 |
$1,591,619 |
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