| |
December 31, |
| |
2021 |
2020 |
| |
(In thousands, except share and per share amounts) |
| ASSETS |
|
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 99,625 |
$ 105,035 |
| Receivables from service providers |
1,352 |
4,711 |
| Short-term investments |
16,463 |
25,019 |
| Restricted cash |
9,080 |
8,519 |
| Fiduciary funds - restricted |
2,046 |
4,106 |
| Trade accounts receivable, less allowances of $19,874 and $22,691, respectively |
153,609 |
142,847 |
| Other current assets |
84,389 |
71,661 |
| Total current assets |
366,564 |
361,898 |
| Property and equipment, net |
54,359 |
52,521 |
| Right-of-use assets |
10,051 |
12,372 |
| Goodwill |
939,249 |
949,037 |
| Intangibles, net |
46,795 |
50,880 |
| Indefinite-lived intangibles |
16,647 |
21,647 |
| Capitalized software development costs, net |
21,565 |
19,389 |
| Deferred tax assets, net |
84,514 |
63,402 |
| Other assets |
33,505 |
38,707 |
| Total assets |
$ 1,573,249 |
$ 1,569,853 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
| Current liabilities: |
|
|
| Accounts payable and accrued liabilities |
$ 86,181 |
$ 64,764 |
| Payables to service agents |
6,296 |
5,281 |
| Accrued payroll and related benefits |
11,360 |
11,792 |
| Working capital facilities |
5,607 |
16,643 |
| Fiduciary funds - restricted |
2,046 |
4,106 |
| Short-term debt |
1,954 |
894 |
| Current portion of long-term debt, net of deferred financing costs of $1,635 and $920, respectively |
28,577 |
23,621 |
| Contract liabilities |
33,164 |
32,898 |
| Lease liability |
3,173 |
3,905 |
| Other current liabilities |
26,837 |
27,486 |
| Total current liabilities |
205,195 |
191,390 |
| Revolving line of credit |
439,402 |
439,402 |
| Long-term debt, less current portion, net of deferred financing costs of $261 and $1,062, respectively |
184,676 |
232,140 |
| Contingent liability for earn-out acquisition consideration |
2,557 |
— |
| Contract liabilities |
8,193 |
8,033 |
| Lease liability |
7,139 |
8,540 |
| Deferred tax liability, net |
1,150 |
1,235 |
| Other liabilities |
25,383 |
29,009 |
| Total liabilities |
873,695 |
909,749 |
| |
|
|
| |
|
|
| Stockholders’ equity: |
|
|
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2021 and 2020 |
— |
— |
| Series Y Convertible preferred stock, $0.10 par value, 350,000 shares authorized, no shares issued and outstanding at December 31, 2021 and 2020 |
— |
— |
| Common stock, $0.10 par value, 220,000,000 shares authorized, 30,683,393 issued and outstanding at December 31, 2021 and 30,515,334 issued and outstanding at December 31, 2020 |
3,068 |
3,052 |
| Additional paid-in capital |
15,068 |
11,126 |
| Retained earnings |
759,208 |
700,304 |
| Accumulated other comprehensive loss |
(122,022 |
(101,503 |
| Total Ebix, Inc. stockholders’ equity |
655,322 |
612,979 |
| Noncontrolling interest |
44,232 |
47,125 |
| Total stockholders' equity |
699,554 |
660,104 |
| Total liabilities and stockholders’ equity |
$ 1,573,249 |
$ 1,569,853 |
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