EVERTEC Group, LLC

CIK:0001517783|SEC Filings

Reconciliation of Income from Operations to Consolidated and Combined Net Income (Detail) (USD $)
In Thousands, unless otherwise specified

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

9 Months Ended

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Merchant acquiring

Dec. 31, 2012

Merchant acquiring

Dec. 31, 2011

Merchant acquiring

Dec. 31, 2010

Payment processing

Dec. 31, 2012

Payment processing

Dec. 31, 2011

Payment processing

Dec. 31, 2010

Business Solutions

Dec. 31, 2012

Business Solutions

Dec. 31, 2011

Business Solutions

Dec. 31, 2010

Total segment income from operations

Dec. 31, 2012

Total segment income from operations

Dec. 31, 2011

Total segment income from operations

Dec. 31, 2010

Other

Dec. 31, 2012

Other

Dec. 31, 2011

Other

Sep. 30, 2010

Predecessor

Sep. 30, 2010

Predecessor

Merchant acquiring

Sep. 30, 2010

Predecessor

Payment processing

Sep. 30, 2010

Predecessor

Business Solutions

Sep. 30, 2010

Predecessor

Total segment income from operations

Sep. 30, 2010

Predecessor

Other

Segment income from operations

Income from operations

$ 14,456

$ 80,020

$ 62,515

$ 5,959

$ 33,836

$ 30,258

$ 12,088

$ 53,682

$ 45,031

$ 9,561

$ 39,845

$ 36,690

$ 27,608

$ 127,363

$ 111,979

$ (13,152)

^[1]

$ (47,343)

^[1]

$ (49,464)

^[1]

$ 55,349

$ 17,647

$ 28,086

$ 18,337

$ 64,070

$ (8,721)

^[1]

Interest (expense) income

(13,318)

(54,018)

(50,197)

290

Earnings of equity method investments

564

833

2,270

Other (expenses) income

(1,316)

(8,490)

(18,201)

2,276

Income tax benefit (expense)

180

87,746

33,054

(23,017)

Net income from continuing operations

$ 2

$ 105,822

$ 28,004

$ 37,168

[1]

For the Successor periods primarily represents certain incremental depreciation and amortization expenses generated as a result of the Merger non-recurring compensation and benefits expenses and professional fees. For the Predecessor period primarily represents the elimination of miscellaneous intersegment revenues for services provided by the Payment Processing segment.

Condensed Consolidated Statement of Cash Flows (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended		9 Months Ended	3 Months Ended	12 Months Ended		9 Months Ended	3 Months Ended	12 Months Ended		9 Months Ended	3 Months Ended	12 Months Ended		9 Months Ended
	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2011	Sep. 30, 2010 Predecessor	Dec. 31, 2010 EVERTEC	Dec. 31, 2012 EVERTEC	Dec. 31, 2011 EVERTEC	Sep. 30, 2010 EVERTEC Predecessor	Dec. 31, 2010 Guarantor Subsidiaries	Dec. 31, 2012 Guarantor Subsidiaries	Dec. 31, 2011 Guarantor Subsidiaries	Sep. 30, 2010 Guarantor Subsidiaries Predecessor	Dec. 31, 2010 Non-Guarantor Subsidiaries	Dec. 31, 2012 Non-Guarantor Subsidiaries	Dec. 31, 2011 Non-Guarantor Subsidiaries	Sep. 30, 2010 Non-Guarantor Subsidiaries Predecessor
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities	$ 18,096	$ 82,656	$ 69,335	$ 63,701	$ 14,964	$ 75,709	$ 61,521	$ 63,771	$ 1,958	$ 8,586	$ 5,836	$ (2,214)	$ 1,174	$ (1,639)	$ 1,978	$ 1,931
Cash flows from investing activities
Net decrease in restricted cash	(3,005)	349	812	581	(3,005)	349	812	581
Net decrease in short-term investments	559			9,431					559			8,631				1,013
Cash transferred as part of legal reorganization of subsidiaries						19				(19)
Intangible assets acquired	(11,891)	(10,896)	(14,466)	(11,780)	(11,674)	(10,631)	(14,363)	(11,195)	(116)	(37)	(33)	(12)	(101)	(228)	(70)	(573)
Property and equipment acquired	(4,106)	(16,613)	(8,963)	(13,181)	(3,934)	(15,269)	(8,219)	(11,674)	(56)	(349)	(371)	(174)	(116)	(995)	(373)	(1,333)
Proceeds from sales of equity method investment				7,509				7,509
Proceeds from sales of property and equipment		118	114			118	74				8				32
Partial payment for acquisition of equity investee	(17,120)				(17,120)
Contingent consideration paid				(1,000)				(1,000)
Acquisition of an equity method investment			(9,244)				(9,244)
Acquisition of predecessor	(461,035)				(458,728)				(2,307)
Net repayment on short-term loans due from affiliate				24,225				24,225
Cash delivered for sale of subsidiary				368												368
Net cash (used in) provided by investing activities from continuing operations	(496,598)	(27,042)	(31,747)	16,153	(494,461)	(25,414)	(30,940)	8,446	(1,920)	(405)	(396)	8,445	(217)	(1,223)	(411)	(525)
Cash flows from financing activities
Proceeds from issuance of long-term debt	557,350	208,725			557,350	208,725
Debt issuance costs	(16,472)	(2,174)		(643)	(16,472)	(2,174)		(643)
Repayment and repurchase of long-term debt	(888)		(38,590)	(1,413)	(888)		(38,590)	(1,413)
Short-term borrowings		26,995				26,995
Repayment of other financing agreement		(225)	(674)			(225)	(674)
Net distributions to parent company	(34,848)	(317,465)		(8,040)	(34,848)	(317,465)		(7,972)								(68)
Dividends paid				(55,700)				(48,200)				(7,500)
Net cash (used in) provided by financing activities from continuing operations	505,142	(84,144)	(39,264)	(65,796)	505,142	(84,144)	(39,264)	(58,228)				(7,500)				(68)
Cash flows from discontinued operations
Net cash provided by (used in) discontinued operations				2,478				2,610								(132)
Net cash provided by (used in) discontinued operations				2,478				2,610								(132)
Net (decrease) increase in cash	26,640	(28,530)	(1,676)	16,536	25,645	(33,849)	(8,683)	16,599	38	8,181	5,440	(1,269)	957	(2,862)	1,567	1,206
Less: Net decrease in cash related to discontinued operations				132												132
Cash at beginning of the period	28,559	53,523	55,199	11,891	19,906	36,868	45,551	3,307	5,701	11,179	5,739	6,970	2,952	5,476	3,909	1,614
Cash at end of the period	$ 55,199	$ 24,993	$ 53,523	$ 28,559	$ 45,551	$ 3,019	$ 36,868	$ 19,906	$ 5,739	$ 19,360	$ 11,179	$ 5,701	$ 3,909	$ 2,614	$ 5,476	$ 2,952

Consolidated Balance Sheet (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Sep. 30, 2010
Current Assets:
Cash	$ 24,993	$ 53,523	$ 55,199	$ 28,559
Restricted cash	4,939	5,288
Accounts receivable, net	78,672	60,930
Prepaid expenses and other assets	13,005	21,526
Total current assets	121,609	141,267
Investment in equity investee	11,080	12,267
Property and equipment, net	36,737	36,685
Goodwill	372,307	371,712	372,584	372,600
Other intangible assets, net	403,170	448,914
Other long-term assets	24,478	22,894
Total assets	969,381	1,033,739
Current Liabilities:
Accrued liabilities	33,245	29,581
Accounts payable	24,482	21,786
Unearned income	1,166	900
Income tax payable	2,959	3,383
Deferred tax liability, net	632	9,321
Total current liabilities	95,531	64,971
Current portion of long-term debt	6,052
Short-term borrowings	26,995
Long-term debt	730,709	523,833
Long-term deferred tax liability, net	6,827	91,431
Other long-term liabilities	3,072	449
Total liabilities	836,139	680,684
Member's equity
Member's units
Contributed capital	120,202	326,367
Accumulated earnings	13,882	28,006
Accumulated other comprehensive loss	(842)	(1,318)
Total member's equity	133,242	353,055	325,343
Total liabilities and member's equity	969,381	1,033,739
EVERTEC
Current Assets:
Cash	3,019	36,868	45,551	19,906
Restricted cash	4,939	5,288
Accounts receivable, net	56,103	41,435
Prepaid expenses and other assets	12,181	20,642
Total current assets	76,242	104,233
Investment in equity investee	11,080	12,267
Investment in subsidiaries at equity	123,558	123,117
Property and equipment, net	30,849	30,823
Goodwill	298,806	296,980
Other intangible assets, net	377,443	419,835
Other long-term assets	24,478	22,894
Total assets	942,456	1,010,149
Current Liabilities:
Accrued liabilities	31,771	28,473
Accounts payable	9,968	11,192
Unearned income	647	504
Deferred tax liability, net		8,835
Total current liabilities	75,433	49,004
Current portion of long-term debt	6,052
Short-term borrowings	26,995
Long-term debt	730,709	523,833
Long-term deferred tax liability, net		83,808
Other long-term liabilities	3,072	449
Total liabilities	809,214	657,094
Member's equity
Contributed capital	120,202	326,367
Accumulated earnings	13,882	28,006
Accumulated other comprehensive loss	(842)	(1,318)
Total member's equity	133,242	353,055
Total liabilities and member's equity	942,456	1,010,149
Guarantor Subsidiaries
Current Assets:
Cash	19,360	11,179	5,739	5,701
Accounts receivable, net	1,236	7,097
Prepaid expenses and other assets	650	530
Total current assets	21,246	18,806
Property and equipment, net	803	719
Goodwill	42,047	43,389
Other intangible assets, net	14,653	17,104
Total assets	78,749	80,018
Current Liabilities:
Accrued liabilities	797	573
Accounts payable	890	838
Unearned income	519	404
Income tax payable	1,900	2,424
Deferred tax liability, net	303	295
Total current liabilities	4,409	4,534
Long-term deferred tax liability, net	3,761	4,204
Total liabilities	8,170	8,738
Member's equity
Member's units	52	55
Contributed capital	64,723	69,358
Accumulated earnings	6,318	2,827
Accumulated other comprehensive loss	(514)	(960)
Total member's equity	70,579	71,280
Total liabilities and member's equity	78,749	80,018
Non-Guarantor Subsidiaries
Current Assets:
Cash	2,614	5,476	3,909	2,952
Accounts receivable, net	21,333	12,398
Prepaid expenses and other assets	284	504
Total current assets	24,231	18,378
Property and equipment, net	5,085	5,143
Goodwill	31,454	31,343
Other intangible assets, net	11,074	11,975
Total assets	71,844	66,839
Current Liabilities:
Accrued liabilities	677	535
Accounts payable	13,624	9,756
Income tax payable	1,059	959
Deferred tax liability, net	329	246
Total current liabilities	15,689	11,496
Long-term deferred tax liability, net	3,066	3,419
Total liabilities	18,755	14,915
Member's equity
Member's units	998	998
Contributed capital	50,851	50,851
Accumulated earnings	1,357	357
Accumulated other comprehensive loss	(117)	(282)
Total member's equity	53,089	51,924
Total liabilities and member's equity	71,844	66,839
Eliminations
Current Assets:
Prepaid expenses and other assets	(110)	(150)
Total current assets	(110)	(150)
Investment in subsidiaries at equity	(123,558)	(123,117)
Total assets	(123,668)	(123,267)
Current Liabilities:
Unearned income		(8)
Deferred tax liability, net		(55)
Total current liabilities		(63)
Total liabilities		(63)
Member's equity
Member's units	(1,050)	(1,053)
Contributed capital	(115,574)	(120,209)
Accumulated earnings	(7,675)	(3,184)
Accumulated other comprehensive loss	631	1,242
Total member's equity	(123,668)	(123,204)
Total liabilities and member's equity	$ (123,668)	$ (123,267)