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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Feb. 09, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Trading Symbol	FLT
Entity Registrant Name	FLEETCOR TECHNOLOGIES INC
Entity Central Index Key	0001175454
Current Fiscal Year End Date	--12-31
Entity Well-know Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		89,808,852
Entity Public Float			$ 13,172,593,947

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 913,595	$ 475,018
Restricted cash	217,275	168,752
Accounts and other receivables (less allowance for doubtful accounts of $46,031 and $32,506, respectively)	1,420,011	1,202,009
Securitized accounts receivable—restricted for securitization investors	811,000	591,000
Prepaid expenses and other current assets	187,820	90,914
Total current assets	3,549,701	2,527,693
Property, plant and equipment, net	180,057	142,504
Goodwill	4,715,823	4,195,150
Other intangibles, net	2,724,957	2,653,233
Investments	32,859	36,200
Other assets	114,962	71,952
Total assets	11,318,359	9,626,732
Current liabilities:
Accounts payable	1,437,314	1,151,432
Accrued expenses	238,472	238,812
Customer deposits	732,171	530,787
Securitization facility	811,000	591,000
Current portion of notes payable and lines of credit	805,512	745,506
Other current liabilities	71,033	38,781
Total current liabilities	4,095,502	3,296,318
Notes payable and other obligations, less current portion	2,902,104	2,521,727
Deferred income taxes	518,912	668,580
Other noncurrent liabilities	125,319	56,069
Total noncurrent liabilities	3,546,335	3,246,376
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock, $0.001 par value; 475,000,000 shares authorized; 122,083,059 shares issued and 89,803,982 shares outstanding at December 31, 2017; and 121,259,960 shares issued and 91,836,938 shares outstanding at December 31, 2016	122	121
Additional paid-in capital	2,214,224	2,074,094
Retained earnings	2,958,921	2,218,721
Accumulated other comprehensive loss	(551,857)	(666,403)
Less treasury stock (32,279,077 shares at December 31, 2017; and 29,423,022 shares at December 31, 2016)	(944,888)	(542,495)
Total stockholders’ equity	3,676,522	3,084,038
Total liabilities and stockholders’ equity	$ 11,318,359	$ 9,626,732

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 46,031	$ 32,506
Par value (in usd per share)	$ 0.001	$ 0.001
Shares authorized (in shares)	475,000,000	475,000,000
Shares issued (in shares)	122,083,059	121,259,960
Shares outstanding (in shares)	89,803,982	91,836,938
Treasury stock, shares	32,279,077	29,423,022

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenues, net	$ 2,249,538	$ 1,831,546	$ 1,702,865
Expenses:
Merchant commissions	113,133	104,345	108,257
Processing	429,613	355,414	331,073
Selling	170,717	131,443	109,075
General and administrative	387,694	283,625	297,715
Depreciation and amortization	264,560	203,256	193,453
Other operating, net	61	(690)	(4,242)
Operating income	883,760	754,153	667,534
Investment loss	53,164	36,356	57,668
Other (income) expense, net	(173,436)	2,982	2,523
Interest expense, net	107,146	71,896	71,339
Loss on extinguishment of debt	3,296	0	0
Total other (income) expense	(9,830)	111,234	131,530
Income before income taxes	893,590	642,919	536,004
Provision for income taxes	153,390	190,534	173,573
Net income	$ 740,200	$ 452,385	$ 362,431
Earnings per share:
Basic earnings per share (in usd per share)	$ 8.12	$ 4.89	$ 3.94
Diluted earnings per share (in usd per share)	$ 7.91	$ 4.75	$ 3.85
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	91,129	92,597	92,023
Diluted weighted average shares outstanding (in shares)	93,594	95,213	94,139

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 740,200	$ 452,385	$ 362,431
Other comprehensive income (loss):
Foreign currency translation gains (losses), net of tax	83,165	(95,592)	(279,303)
Reclassification of foreign currency translation loss to investment, net of tax	31,381	0	0
Total other comprehensive income (loss)	114,546	(95,592)	(279,303)
Total comprehensive income	$ 854,746	$ 356,793	$ 83,128

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning Balance at Dec. 31, 2014	$ 2,618,562	$ 120	$ 1,852,442	$ 1,403,905	$ (291,508)	$ (346,397)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	362,431			362,431
Other comprehensive income (loss), net of tax	(279,303)				(279,303)
Acquisition of common stock	(8,119)		0			(8,119)
Issuance of common stock	136,476	1	136,475
Ending Balance at Dec. 31, 2015	2,830,047	121	1,988,917	1,766,336	(570,811)	(354,516)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	452,385			452,385
Other comprehensive income (loss), net of tax	(95,592)				(95,592)
Acquisition of common stock	(187,979)		0			(187,979)
Issuance of common stock	85,177	0	85,177
Ending Balance at Dec. 31, 2016	3,084,038	121	2,074,094	2,218,721	(666,403)	(542,495)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	740,200			740,200
Other comprehensive income (loss), net of tax	114,546				114,546
Acquisition of common stock	(402,393)					(402,393)
Issuance of common stock	140,131	1	140,130
Ending Balance at Dec. 31, 2017	$ 3,676,522	$ 122	$ 2,214,224	$ 2,958,921	$ (551,857)	$ (944,888)

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Other comprehensive loss, tax	$ 0	$ 0	$ 0

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Operating activities

Net income

$ 740,200

$ 452,385

$ 362,431

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

46,599

36,456

30,462

Stock-based compensation

93,297

63,946

90,122

Provision for losses on accounts receivable

44,857

35,885

24,629

Amortization of deferred financing costs and discounts

6,952

7,582

7,049

Amortization of intangible assets

211,849

161,635

159,740

Amortization of premium on receivables

6,112

5,165

3,250

Loss on extinguishment of debt

3,296

Deferred income taxes

(247,712)

(28,681)

30,626

Investment loss

53,164

36,356

57,668

Gain on disposition of business

(174,983)

Other non-cash operating income

(61)

(690)

(4,242)

Changes in operating assets and liabilities (net of acquisitions and disposition):

Restricted cash

(4,335)

(2,306)

(35,676)

Accounts receivable and other receivables

(431,003)

(338,796)

40,017

Prepaid expenses and other current assets

26,102

5,301

(12,564)

Other assets

(20,957)

(20,345)

(2,524)

Excess tax benefits related to stock-based compensation

(26,427)

Accounts payable, accrued expenses and customer deposits

322,346

292,019

30,023

Net cash provided by operating activities

675,723

705,912

754,584

Investing activities

Acquisitions, net of cash acquired1

^[1]

(705,257)

(1,331,985)

(49,069)

Purchases of property and equipment

(70,093)

(59,011)

(41,875)

Proceeds from disposal of a business

316,501

Other

(38,953)

1,411

(8,470)

Net cash used in investing activities

(497,802)

(1,389,585)

(99,414)

Financing activities

Excess tax benefits related to stock-based compensation

26,427

Proceeds from issuance of common stock

44,690

21,231

19,926

Borrowings (payments) on securitization facility, net

220,000

(23,000)

(61,000)

Repurchase of common stock

(402,393)

(187,678)

Deferred financing costs paid and debt discount

(12,908)

(2,272)

Proceeds from issuance of notes payable

780,656

600,000

Principal payments on notes payable

(423,156)

(118,500)

(103,500)

Borrowings from revolver

1,100,000

1,225,107

Payments on revolver

(1,031,722)

(786,849)

(486,818)

Borrowings (payments) on swing line of credit, net

(23,686)

26,606

(546)

Payment of contingent consideration

(42,177)

Other

457

(676)

(377)

Net cash provided by (used in) financing activities

251,938

753,969

(648,065)

Effect of foreign currency exchange rates on cash

8,718

(42,430)

(37,022)

Net increase (decrease) in cash

438,577

27,866

(29,917)

Cash and cash equivalents, beginning of year

475,018

447,152

477,069

Cash and cash equivalents, end of year

913,595

475,018

447,152

Supplemental cash flow information

Cash paid for interest

113,416

70,339

72,537

Cash paid for income taxes

392,192

101,951

83,380

Non cash investing activity, notes assumed in acquisitions

$ 29,341

$ 0

[1]	Amounts reported in acquisitions and investment, net of cash acquired, includes debt assumed and immediately repaid in acquisitions.

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2017
Accounting Policies [Abstract]
Description of Business	Description of Business FLEETCOR Technologies, Inc. and its subsidiaries (the Company) is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes control, simplify and secure payment of various domestic and cross-border payables using specialized payment products. The Company serves businesses, merchants and partners in North America, Latin America, Europe, and Australasia. The Company has two reportable segments, North America and International. The Company reports these two segments as they align with its senior executive organizational structure, reflect how the Company organizes and manages its employees around the world, manages operating performance, contemplates the differing regulatory environments in North America versus other geographies, and helps the Company isolate the impact of foreign exchange fluctuations on its financial results. The Company's payment solutions provide its customers with a payment method designed to be superior and more robust and effective than what they use currently, whether they use a competitor’s product or another alternative method such as cash or check. The Company's solutions are comprised of payment products, networks and associated services. The Company's payment products function like a charge card or prepaid card and tend to be specialized for specific spend categories, such as fuel or lodging, and/or specific customer groups, such as long haul transportation. The Company's five primary product lines are Fuel, Lodging, Tolls, Corporate Payments and Gift. Additionally, the Company provides other payment products including fleet maintenance, employee benefits and long haul transportation-related services. The Company's products are used in 56 countries around the world, with its primary geographies being the U.S., Brazil and the United Kingdom, which combined accounted for approximately 90% of the Company's revenue in 2017. The Company uses both proprietary and third-party networks to deliver its payment solutions. FLEETCOR owns and operates proprietary networks with brands throughout the world, bringing incremental sales and loyalty to affiliated merchants. Third-party networks are used to broaden payment product acceptance and use. The Company markets its products directly through multiple sales channels, including field sales, telesales and digital marketing, and indirectly through its partners, which include major oil companies, leasing companies, petroleum marketers, value-added resellers (VARs) and referral partners.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Revenue Recognition and Presentation

Revenue is derived from the Company’s merchant and network relationships as well as from customers and partners. The Company recognizes revenue on fees generated through services primarily to commercial fleets, commercial businesses, major oil companies, petroleum marketers and leasing companies and records revenue net of the wholesale cost of the underlying products and services based on the following: (i) the Company is not the primary obligor in the arrangement and is not responsible for fulfillment and the acceptability of the product; (ii) the Company has no inventory risk, does not bear the risk of product loss and does not make any changes to the product or have any involvement in the product specifications; (iii) the Company does not have significant latitude with respect to establishing the price for the product; and (iv) the amount the Company earns for services is fixed, within a limited range. The Company recognizes revenue from merchant and network relationships, processing and other arrangements when persuasive evidence of an arrangement exists, the services have been provided to the customer, the sales price is fixed or determinable and collectability is reasonably assured, as more fully described below.

Through the Company’s merchant and network relationships the Company provides fuel, prepaid cards, vehicle maintenance, lodging, food, toll, and transportation related services to our customers. The Company derives revenue from its merchant and network relationships based on the difference between the price charged to a customer for a transaction and the price paid to the merchant or network for the same transaction. The Company’s revenue consists of margin on sales and fees for technical support, processing, communications and reporting. The price paid to a merchant or network may be calculated as (i) the merchant’s wholesale cost of the product plus a markup; (ii) the transaction purchase price less a percentage discount; or (iii) the transaction purchase price less a fixed fee per unit. The difference between the price the Company pays to a merchant and the merchant’s wholesale cost for the underlying products and services is considered a merchant commission and is recognized as expense when the fuel purchase transaction is executed. The Company has entered into agreements with major oil companies, petroleum marketers and leasing companies, among others, that specify that a transaction is deemed to be captured when we have validated that the transaction has no errors and have accepted and posted the data to the Company’s records.

The Company also derives revenue from customers and partners from a variety of program fees including transaction fees, card fees, network fees, service fees, report fees and other transaction-based fees, which typically are calculated based on measures such as percentage of dollar volume processed, number of transactions processed, or some combination thereof. Such services are provided through proprietary networks or through the use of third-party networks. Transaction fees and other transaction-based fees generated from the Company’s proprietary networks and third-party networks are recognized at the time the transaction is captured. Card fees, network fees and program fees are recognized as the Company fulfills its contractual service obligations. In addition, the Company recognizes revenue from late fees and finance charges, in jurisdictions where permitted under local regulations, primarily in the U.S. and Canada. Such fees are recognized net of a provision for estimated uncollectible amounts, at the time the fees and finance charges are assessed and services are provided. The Company ceases billing and accruing for late fees and finance charges approximately 30-40 days after the customer’s balance becomes delinquent.

The Company also charges its customers transaction fees to load value onto prepaid fuel, food, toll and transportation vouchers and cards. The Company recognizes fee revenue upon providing the activated fuel, food, toll and transportation vouchers and prepaid cards to the customer. Revenue is recognized on lodging and transportation management services when the lodging stay or transportation service is completed. Revenue is also derived from the sale of equipment and cards in certain of the Company’s businesses, which is recognized at the time the device is sold and the risks and rewards of ownership have passed. This revenue is recognized gross of the cost of sales related to the equipment in revenues, net within the Consolidated Statements of Income. The related cost of sales for the equipment is recorded within processing expenses in the Consolidated Statements of Income. The Company has recorded $96.8 million, $91.6 million and $84.1 million of expenses related to sales of equipment within the processing expenses line of the Consolidated Statements of Income for the years ended December 31, 2017, 2016 and 2015, respectively. Sales commissions paid to personnel are expensed as incurred.

The Company delivers both stored value cards and card-based services primarily in the form of gift cards. For multiple-deliverable customer contracts, stored value cards and card-based services are separated into two units of accounting. Stored valued cards are generally recognized upon shipment to the customer. Card-based services are recognized when the card services are rendered.

The Company presents taxes assessed by the government imposed concurrent with a revenue producing transaction between us and our customers (e.g. VAT) on a net basis within revenues, net.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of FLEETCOR Technologies, Inc. and all of its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated.

The Company’s fiscal year ends on December 31. In certain of the Company’s U.K. businesses, the Company records the operating results using a 4-4-5 week accounting cycle with the fiscal year ending on the Friday on or immediately preceding December 31. Fiscal years 2017, 2016 and 2015 include 52 weeks for the businesses reporting using a 4-4-5 accounting cycle.

Credit Risk and Reserve for Losses on Receivables

The Company controls credit risk by performing periodic credit evaluations of its customers. Payments from customers are generally due within 14 days or less of billing. The Company routinely reviews its accounts receivable balances and makes provisions for probable doubtful accounts based primarily on the aging of those balances. Accounts receivable are deemed uncollectible once they age past 90 days and are deemed uncollectible from the customer. The Company also provides an allowance for receivables aged less than 90 days that it expects will be uncollectible based on historical collections experience including accounts that have filed for bankruptcy. At December 31, 2017 and 2016, approximately 96% and 95%, respectively, of outstanding accounts receivable were current. Accounts receivable deemed uncollectible are removed from accounts receivable and the allowance for doubtful accounts when internal collection efforts have been exhausted and accounts have been turned over to a third-party collection agency. Recoveries from the third-party collection agency are not significant.

Business Combinations

Business combinations completed by the Company have been accounted for under the acquisition method of accounting. The acquisition method requires that the acquired assets and liabilities, including contingencies, be recorded at fair value determined as of the acquisition date and changes thereafter reflected in income. For significant acquisitions, the Company obtains independent third-party valuation studies for certain of the assets acquired and liabilities assumed to assist the Company in determining fair value. Goodwill represents the excess of the purchase price over the fair values of the tangible and intangible assets acquired and liabilities assumed. The results of the acquired businesses are included in the Company’s results of operations beginning from the completion date of the applicable transaction.

Estimates of fair value are revised during an allocation period as necessary when, and if, information becomes available to further define and quantify the fair value of the assets acquired and liabilities assumed. Provisional estimates of the fair values of the assets acquired and liabilities assumed involves a number of estimates and assumptions that could differ materially from the final amounts recorded. The allocation period does not exceed one year from the date of the acquisition. To the extent additional information to refine the original allocation becomes available during the allocation period, the allocation of the purchase price is adjusted. Should information become available after the allocation period, those items are adjusted through operating results. The direct costs of the acquisition are recorded as operating expenses. Certain acquisitions include contingent consideration related to the performance of the acquired operations following the acquisition. Contingent consideration is recorded at estimated fair value at the date of the acquisition, and is remeasured each reporting period, with any changes in fair value recorded in the Consolidated Statements of Income. The Company estimates the fair value of the acquisition-related contingent consideration using various valuation approaches, as well as significant unobservable inputs, reflecting the Company’s assessment of the assumptions market participants would use to value these liabilities.

Impairment of Long-Lived Assets, Goodwill, Intangibles and Investments

The Company tests its long-lived assets for impairment in accordance with relevant authoritative guidance. The Company evaluates if impairment indicators related to its property, plant and equipment and other long-lived assets are present. These impairment indicators may include a significant decrease in the market price of a long-lived asset or asset group, a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If impairment indicators are present, the Company estimates the future cash flows for the asset or asset group. The sum of the undiscounted future cash flows attributable to the asset or asset group is compared to its carrying amount. The cash flows are estimated utilizing various projections of revenues and expenses, working capital and proceeds from asset disposals on a basis consistent with management’s intended actions. If the carrying amount exceeds the sum of the undiscounted future cash flows, the Company determines the assets’ fair value by discounting the future cash flows using a discount rate required for a similar investment of like risk and records an impairment charge as the difference between the fair value and the carrying value of the asset group. Generally, the Company performs its testing of the asset group at the business-line level, as this is the lowest level for which identifiable cash flows are available.

The Company completes an impairment test of goodwill at least annually or more frequently if facts or circumstances indicate that goodwill might be impaired. Goodwill is tested for impairment at the reporting unit level, and the impairment test consists of two steps, as well as a qualitative assessment, as appropriate. The Company has performed a qualitative assessment of certain of its reporting units. In this qualitative assessment, the Company individually considered the following items for each reporting unit where the Company determined a qualitative analysis to be appropriate: the macroeconomic conditions, including any deterioration of general conditions, limitations on accessing capital, fluctuations in foreign exchange rates and other developments in equity and credit markets; industry and market conditions, including any deterioration in the environment where the reporting unit operates, increased competition, changes in the products/services and regulator and political developments; cost of doing business; overall financial performance, including any declining cash flows and performance in relation to planned revenues and earnings in past periods; other relevant reporting unit specific facts, such as changes in management or key personnel or pending litigation; events affecting the reporting unit, including changes in the carrying value of net assets, likelihood of disposal and whether there were any other impairment considerations within the business; the overall performance of our share price in relation to the market and our peers; and a quantitative stress test of the previously completed step 1 test from the prior year, updated with current year results, weighted-average cost of capital rates and future projections.

In step 1 of the goodwill impairment test for reporting units, the reporting unit’s carrying amount, including goodwill, is compared to its fair value which is measured based upon, among other factors, a discounted cash flow analysis, as well as market multiples for comparable companies. If the carrying amount of the reporting unit is greater than its fair value, goodwill is considered impaired and step two must be performed. Step two measures the impairment loss by comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit to all the assets and liabilities of that unit (including unrecognized intangibles) as if the reporting unit had been acquired in a business combination. The excess of fair value over the amounts allocated to the assets and liabilities of the reporting unit is the implied fair value of goodwill. The excess of the carrying amount over the implied fair value is the impairment loss.

The Company estimated the fair value of its reporting units using a combination of the income approach and the market approach. The income approach utilizes a discounted cash flow model incorporating management’s expectations for future revenue, operating expenses, earnings before interest, taxes, depreciation and amortization, capital expenditures and an anticipated tax rate. The Company discounted the related cash flow forecasts using an estimated weighted-average cost of capital for each reporting unit at the date of valuation. The market approach utilizes comparative market multiples in the valuation estimate. Multiples are derived by relating the value of guideline companies, based on either the market price of publicly traded shares or the prices of companies being acquired in the marketplace, to various measures of their earnings and cash flow. Such multiples are then applied to the historical and projected earnings and cash flow of the reporting unit in developing the valuation estimate.

Preparation of forecasts and the selection of the discount rates involve significant judgments about expected future business performance and general market conditions. Significant changes in forecasts, the discount rates selected or the weighting of the income and market approach could affect the estimated fair value of one or more of our reporting units and could result in a goodwill impairment charge in a future period.

Based on the goodwill asset impairment analysis performed quantitatively on October 1, 2017, the Company determined that the fair value of each of its reporting units was in excess of the carrying value. No events or changes in circumstances have occurred since the date of this most recent annual impairment test that would more likely than not reduce the fair value of a reporting unit below its carrying amount.

The Company also evaluates indefinite-lived intangible assets (primarily trademarks and trade names) for impairment annually. The Company also tests for impairment if events and circumstances indicate that it is more likely than not that the fair value of an indefinite-lived intangible asset is below its carrying amount. Estimates critical to the Company’s evaluation of indefinite-lived intangible assets for impairment include the discount rate, royalty rates used in its evaluation of trade names, projected average revenue growth and projected long-term growth rates in the determination of terminal values. An impairment charge is recorded if the carrying amount of an indefinite-lived intangible asset exceeds the estimated fair value on the measurement date.

The Company regularly evaluates the carrying value of its investments, which are not carried at fair value, for other-than-temporary impairment. The Company estimates the fair value of its investments using a combination of the income approach and the market approach. The income approach utilizes a discounted cash flow model incorporating management’s expectations for future revenue, operating expenses, earnings before interest, taxes, depreciation and amortization, capital expenditures and an anticipated tax rate. The Company discounts the related cash flow forecasts using an estimated weighted-average cost of capital for each reporting unit at the date of valuation. The market approach utilizes comparative market multiples in the valuation estimate. Multiples are derived by relating the value of guideline companies, based on either the market price of publicly traded shares or the prices of companies being acquired in the marketplace, to various measures of their earnings and cash flow. Such multiples are then applied to the historical and projected earnings and cash flow of the Company's investments in developing the valuation estimate.

On September 30, 2017, the Company entered into an amended Masternaut Group Holdings Limited ("Masternaut") investment agreement that resulted in the loss of significant influence, and the Company began accounting for the Masternaut investment by applying the cost method. The Company regularly evaluates the carrying value of its investment and during the third quarter of 2017, the Company determined that the fair value of its 44% investment in Masternaut had declined as a result of the Company's loss of significant influence and the operating results of Masternaut. As a result, the Company determined that the carrying value of its investment exceeded its fair value, and concluded that this decline in value was other than temporary during the third quarter of 2017. The Company recorded a $44.6 million impairment loss in the Masternaut investment that includes adjustment for $31.4 million of currency losses previously recognized in accumulated other comprehensive income, in the year ended December 31, 2017, in the accompanying Consolidated Statements of Income. During the fourth quarters of 2016 and 2015, the Company determined that the performance improvement initiatives in its investment in Masternaut were taking longer to and were more challenging to implement than originally projected, based on revised cash flow projections provided by the business. As a result, the Company recorded a $36.1 million and $40 million non-cash impairment charge in its Masternaut investment for 2016 and 2015, respectively.

Property, Plant and Equipment and Definite-Lived Intangible Assets

Property, plant and equipment are stated at cost and depreciated on the straight-line basis. Definite-lived intangible assets, consisting primarily of customer relationships, are stated at fair value upon acquisition and are amortized over their estimated useful lives. Customer and merchant relationship useful lives are estimated using historical attrition rates.

The Company develops software that is used in providing processing and information management services to customers. A significant portion of the Company’s capital expenditures are devoted to the development of such internal-use computer software. Software development costs are capitalized once technological feasibility of the software has been established. Costs incurred prior to establishing technological feasibility are expensed as incurred. Technological feasibility is established when the Company has completed all planning, designing, coding and testing activities that are necessary to determine that the software can be produced to meet its design specifications, including functions, features and technical performance requirements. Capitalization of costs ceases when the software is ready for its intended use. Software development costs are amortized using the straight-line method over the estimated useful life of the software. The Company capitalized software costs of $37.4 million, $33.1 million and $23.4 million in 2017, 2016 and 2015, respectively. Amortization expense for software totaled $21.8 million, $17.7 million and $11.6 million in 2017, 2016 and 2015, respectively.

Income Taxes

The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.

The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the associated temporary differences become deductible. The Company evaluates on a quarterly basis whether it is more likely than not that its deferred tax assets will be realized in the future and concludes whether a valuation allowance must be established.

Current accounting guidance clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes threshold and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on a tax return. Under the relevant authoritative literature, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more likely than not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50 percent likelihood of being sustained. The Company includes any estimated interest and penalties on tax related matters in income tax expense.

In the fourth quarter of 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”). As a result of Tax Act, the U.S. federal corporate tax rate was reduced from 35% to 21%. The Tax Act also includes provisions for a tax on all previously undistributed earnings in foreign jurisdictions. The Company has provisionally recorded a $210 million deferred tax benefit for the benefit for the corporate rate reduction on our deferred tax assets and liabilities. Additionally, in 2017, the Company has provisionally recorded an $81.8 million charge on all previously undistributed earnings in foreign jurisdictions. The Company is currently evaluating the remaining undistributed foreign earnings for which it has not provided deferred taxes for foreign withholding tax, as these earnings are considered to be indefinitely reinvested. The amount of these unrecorded deferred taxes is not expected to be material. If in the future these earnings are repatriated to the United States, or if we determine that the earnings will be remitted in the foreseeable future, additional tax provisions may be required. See Note 11 for further information regarding income taxes.

Cash Equivalents

Cash equivalents consist of cash on hand and highly liquid investments with original maturities of three months or less. Restricted cash represents customer deposits repayable on demand.

Foreign Currency Translation

Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the rates of exchange in effect at period-end. The related translation adjustments are made directly to accumulated other comprehensive income. Income and expenses are translated at the average monthly rates of exchange in effect during the year. Gains and losses from foreign currency transactions of these subsidiaries are included in net income. The Company recognized a foreign exchange loss of $0.2 million, $2.8 million and $2.4 million for the years ended December 31, 2017, 2016 and 2015 respectively, which are recorded within other expense, net in the Consolidated Statements of Income.

Derivatives

With its acquisition of Cambridge Global Payments ("Cambridge") in August 2017, the Company uses derivatives to facilitate cross-currency corporate payments by writing derivatives to customers, which are not designated as hedging instruments. The majority of Cambridge's revenue is from exchanges of currency at spot rates, which enable customers to make cross-currency payments. In addition, Cambridge also writes foreign currency forward and option contracts for its customers to facilitate future payments. The duration of these derivative contracts at inception is generally less than one year. The Company aggregates its foreign exchange exposures arising from customer contracts, including forwards, options and spot exchanges of currency, and hedges (economic hedge) the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties. The changes in fair value related to these contracts are recorded in revenues, net in the Consolidated Statements of Income.

The Company recognizes all derivatives in "prepaid expenses and other current assets" and "other current liabilities" in the accompanying Consolidated Balance Sheets at their fair value. All cash flows associated with derivatives are included in cash flows from operating activities in the Consolidated Statements of Cash Flows.

Stock-Based Compensation

The Company accounts for employee stock options and restricted stock in accordance with relevant authoritative literature. Stock options are granted with an exercise price estimated to be equal to the fair market value on the date of grant as authorized by the Company’s board of directors. Options granted have vesting provisions ranging from one to five years and vesting of the options is generally based on the passage of time or performance. Stock option grants are subject to forfeiture if employment terminates prior to vesting. The Company has selected the Black-Scholes option pricing model for estimating the grant date fair value of stock option awards granted. The Company has considered the retirement and forfeiture provisions of the options and utilized its historical experience to estimate the expected life of the options. Option forfeitures are accounted for upon occurrence. The Company bases the risk-free interest rate on the yield of a zero coupon U.S. Treasury security with a maturity equal to the expected life of the option from the date of the grant. Stock-based compensation cost is measured at the grant date based on the value of the award and is recognized as expense over the requisite service period based on the number of years for which the requisite service is expected to be rendered.

Awards of restricted stock and restricted stock units are independent of stock option grants and are subject to forfeiture if employment terminates prior to vesting. The vesting of shares granted is generally based on the passage of time, performance or market conditions, or a combination of these. Shares vesting based on the passage of time have vesting provisions of one to three years. The fair value of restricted stock where the shares vest based on the passage of time or performance is based on the grant date fair value of the Company’s stock.

For performance-based restricted stock awards and performance based stock option awards, the Company must also make assumptions regarding the likelihood of achieving performance goals. If actual results differ significantly from these estimates, stock-based compensation expense and the Company’s results of operations could be materially affected.

Deferred Financing Costs/Debt Discounts

Costs incurred to obtain financing, net of accumulated amortization, are amortized over the term of the related debt, using the effective interest method and are included within interest expense. The Company capitalized additional debt issuance costs of $12.9 million associated with refinancing its Credit Facility and Securitization Facility in 2017 and $2.3 million with refinancing its Credit Facility in 2016. At December 31, 2017 and 2016, the Company had net deferred financing costs of $16.3 million and $13.1 million, respectively.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the total of net income and all other changes in equity that result from transactions and other economic events of a reporting period other than transactions with owners.

Accounts Receivable

The Company maintains a $950 million revolving trade accounts receivable Securitization Facility. Accounts receivable collateralized within our Securitization Facility relate to trade receivables resulting from charge card activity in the U.S. Pursuant to the terms of the Securitization Facility, the Company transfers certain of its domestic receivables, on a revolving basis, to FLEETCOR Funding LLC (Funding), a wholly-owned bankruptcy remote subsidiary. In turn, Funding sells, without recourse, on a revolving basis, up to $950 million of undivided ownership interests in this pool of accounts receivable to a multi-seller, asset-backed commercial paper conduit (Conduit). Funding maintains a subordinated interest, in the form of over-collateralization, in a portion of the receivables sold to the Conduit. Purchases by the Conduit are financed with the sale of highly-rated commercial paper.

The Company utilizes proceeds from the sale of its accounts receivable as an alternative to other forms of financing to reduce its overall borrowing costs. The Company has agreed to continue servicing the sold receivables for the financial institution at market rates, which approximates the Company’s cost of servicing. The Company retains a residual interest in the accounts receivable sold as a form of credit enhancement. The residual interest’s fair value approximates carrying value due to its short-term nature. Funding determines the level of funding achieved by the sale of trade accounts receivable, subject to a maximum amount.

The Company’s Consolidated Balance Sheets and Statements of Income reflect the activity related to securitized accounts receivable and the corresponding securitized debt, including interest income, fees generated from late payments, provision for losses on accounts receivable and interest expense. The cash flows from borrowings and repayments, associated with the securitized debt, are presented as cash flows from financing activities.

On November 14, 2017, the Company extended the term of its asset Securitization Facility to November 14, 2020. The Company capitalized $1.7 million in fees in connection with this extension.

The Company’s accounts receivable and securitized accounts receivable include the following at December 31 (in thousands):



	2017			2016
Gross domestic accounts receivables	$	661,677		$	529,885
Gross domestic securitized accounts receivable	811,000			591,000
Gross foreign receivables	804,365			704,630
Total gross receivables	2,277,042			1,825,515
Less allowance for doubtful accounts	(46,031		)	(32,506		)
Net accounts and securitized accounts receivable	$	2,231,011		$	1,793,009

A rollforward of the Company’s allowance for doubtful accounts related to accounts receivable for the years ended December 31 is as follows (in thousands):



	2017			2016			2015
Allowance for doubtful accounts beginning of year	$	32,506		$	21,903		$	23,842
Provision for bad debts	44,857			35,885			24,629
Write-offs	(31,332		)	(25,282		)	(26,568		)
Allowance for doubtful accounts end of year	$	46,031		$	32,506		$	21,903

Advertising

The Company expenses advertising costs as incurred. Advertising expense was $26.1 million, $22.2 million and $19.9 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Earnings Per Share

The Company reports basic and diluted earnings per share. Basic earnings per share is calculated using the weighted average of common stock and non-vested, non-forfeitable restricted shares outstanding, unadjusted for dilution, and net income attributable to common shareholders.

Diluted earnings per share is calculated using the weighted average shares outstanding and contingently issuable shares less weighted average shares recognized during the period. The net outstanding shares have been adjusted for the dilutive effect of common stock equivalents, which consist of outstanding stock options and unvested forfeitable restricted stock units.

Pending Adoption of Recently Issued Accounting Standards

From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company’s management believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s consolidated financial statements upon adoption.

Tax Act

The SEC staff issued Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act" ("SAB 118"), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act.

Revenue Recognition

In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)". The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP and permits the use of either the retrospective or modified retrospective transition method. The update requires significant additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09, as amended by ASU 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date", is effective for years beginning after December 15, 2017, including interim periods, with early adoption permitted for years beginning after December 15, 2016. Since the issuance of ASU 2014-09, the FASB has issued additional interpretive guidance, including new accounting standards updates, that clarifies certain points of the standard and modifies certain requirements.

The Company has performed a review of the requirements of the new revenue standard and is monitoring the activity of the FASB and the transition resource group as it relates to specific interpretive guidance. The Company established an implementation team to assess the effects of the new revenue standard in a multi-phase approach. In the first phase, the Company analyzed customer contracts for its most significant contract categories, applied the five-step model of the new standard to each contract category and comparing the results to our current accounting practices. The second phase, which includes quantifying the potential effects identified during the first phase, assessing additional contract categories and principal versus agent considerations, revising accounting policies and considering the effects on related disclosures and/or internal control over financial reporting is ongoing and expected to be concluded during the first quarter of 2018.

The new standard could change the amount and timing of revenue and expenses to be recognized under certain of our arrangement types. In addition, it could also increase the administrative burden on our operations to account for customer contracts and provide the more expansive required disclosures. More judgment and estimates may be required within the process of applying the requirements of the new standard than are required under existing GAAP, such as identifying performance obligations in contracts, estimating the amount of variable consideration to include in transaction price, allocating transaction price to each separate performance obligation and estimating expected customer lives. The Company is in the process of finalizing its assessment and completing the quantification of the effect the new guidance will have on its consolidated financial statements, related disclosures and/or internal control over financial reporting. This conclusion will be made over the remainder of the first quarter of 2018 and will include finalizing its evaluation of the application of the principal vs. agent guidance, specifically as it relates to products where we utilize a third-party payment network and in certain businesses where we pay merchant commissions. However, the Company's preliminary view is that the expected amount and timing of revenue to be recognized under ASU 2014-09 for our most significant contract categories, fuel card payments, lodging payments, toll payments, corporate payments, and gift cards, will be similar to the amount and timing of revenue recognized under its current accounting practices, except as it relates to the presentation of certain costs where the Company may be determined to be an agent in the processing relationship under the new guidance, resulting in recording such costs as a reduction of revenue. The Company will be required to capitalize additional costs to obtain contracts with customers, and, in some cases, may be required to amortize these costs over a contractual time period. Finally, the Company expects disclosures about its revenues and related customer acquisition costs to be more extensive.

The Company plans to adopt ASU 2014-09, as well as other clarifications and technical guidance issued by the FASB related to this new revenue standard, on January 1, 2018. The Company will apply the modified retrospective transition method, which would result in an adjustment to retained earnings for the cumulative effect, if any, of applying the standard to contracts that are not completed at the date of initial application. Under this method, the Company would not restate the prior financial statements presented, therefore the new standard requires the Company to provide additional disclosures of the amount by which each financial statement line item is affected in the current reporting period during 2018, as compared to the guidance that was in effect before the change, and an explanation of the reasons for significant changes, if any.

Accounting for Leases

In February 2016, the FASB issued ASU 2016-02, “Leases”, which requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. This ASU also requires disclosures to provide additional information about the amounts recorded in the financial statements. This ASU is effective for the Company for annual periods beginning after December 15, 2018 and interim periods therein. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition and requires application of the new guidance for leases that exist or are entered into after the beginning of the earliest comparative period presented. The Company is currently evaluating the impact of ASU 2016-02 on its consolidated financial statements; however, the Company expect to recognize right of use assets and liabilities for operating leases in the Consolidated Balance Sheet upon adoption.

Accounting for Breakage

In March 2016, the FASB issued ASU 2016-04, “Liabilities-Extinguishments of Liabilities: Recognition of Breakage for Certain Prepaid Stored-Value Products”, which requires entities that sell prepaid stored value products redeemable for goods, services or cash at third-party merchants to derecognize liabilities related to those products for breakage. This ASU is effective for the Company for reporting periods beginning after December 15, 2017. Early adoption is permitted. The ASU must be adopted using either a modified retrospective approach with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption or a full retrospective approach. The Company’s adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows.

Cash Flow Classification

In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments", which amends the guidance in ASC 230, Statement of Cash Flows. This amended guidance reduces the diversity in practice that has resulted from the lack of consistent principles related to the classification of certain cash receipts and payments in the statement of cash flows. This ASU is effective for the Company for reporting periods beginning after December 15, 2017. Early adoption is permitted. Entities must apply the guidance retrospectively to all periods presented but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. The Company’s adoption of this ASU is not expected to have a material impact on the results of operations or financial condition.

In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash", which amends the guidance in ASC 230, Statement of Cash Flows, on the classification and presentation of restricted cash in the statement of cash flows. This ASU is effective for the Company for reporting periods beginning after December 15, 2017. Early adoption is permitted. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments in this ASU should be applied using a retrospective transition method to each period presented. The Company is evaluating what impact, if any, the adoption of this ASU will have on the results of operations, financial condition, or cash flows.

Intangibles - Goodwill and Other Impairment

In January 2017, the FASB issued ASU 2017-04, "Simplifying the Test for Goodwill Impairment", which eliminates the requirement to calculate the implied fair value of goodwill (i.e., Step 2 of the goodwill impairment test) to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (i.e., measure the charge based on Step 1). The standard has tiered effective dates, starting in 2020 for calendar-year public business entities that meet the definition of an SEC filer. Early adoption is permitted for interim and annual goodwill impairment testing dates after January 1, 2017. The Company’s adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows, unless a goodwill impairment is identified.

Definition of a Business

In January 2017, the FASB issued ASU 2017-01, "Clarifying the Definition of a Business", which amends the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The guidance requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the set of transferred assets and activities is not a business. The guidance also requires a business to include at least one substantive process and narrows the definition of outputs. The guidance is effective for the Company for reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company’s adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows, however it could result in accounting for acquisitions as asset acquisitions versus business combinations upon adoption.

Accounting for Modifications to Stock-Based Compensation

In May 2017, the FASB issued ASU 2017-09, "Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting", which amends the scope of modification accounting for share-based payment arrangements. The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions and classification of the awards are the same immediately before and after the modification. The guidance is effective for the Company for reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company's adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows.

Accounting for Derivative Financial Instruments

In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities", which amends the hedge accounting recognition and presentation requirements in ASC 815. The FASB issued accounting guidance to better align hedge accounting with a company’s risk management activities, simplify the application of hedge accounting and improve the disclosures of hedging arrangements. The guidance is effective for the Company for reporting periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted. The Company's adoption of this ASU is not expected to have a material impact on the results of operations, financial condition, or cash flows.

Fair Value Measurements

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is a market-based measurement that reflects assumptions that market participants would use in pricing an asset or liability. GAAP discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). These valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions.

As the basis for evaluating such inputs, a three-tier value hierarchy prioritizes the inputs used in measuring fair value as follows:


•	Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets.

•

Level 2: Observable inputs other than quoted prices that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets; quoted prices for similar or identical assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.


•	Level 3: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The following table presents the Company’s financial assets and liabilities which are measured at fair values on a recurring basis as of December 31, 2017 and 2016, (in thousands):



	Fair Value		Level 1		Level 2		Level 3
December 31, 2017
Assets:
Repurchase agreements	$	420,838	$	—	$	420,838	$	—
Money market	50,423		—		50,423		—
Certificates of deposit	7,417		—		7,417		—
Foreign exchange contracts	39,045		10		39,035		—
Total cash equivalents	$	517,723	$	10	$	517,713	$	—
Cash collateral for foreign exchange contracts	$	12,540	$	—	$	—	$	—
Liabilities:
Foreign exchange contracts	$	26,888	$	67	$	26,821	$	—
Total liabilities	$	26,888	$	67	$	26,821	$	—
Cash collateral obligation for foreign exchange contracts	$	10,882	$	—	$	—	$	—

December 31, 2016
Assets:
Repurchase agreements	$	232,131	$	—	$	232,131	$	—
Money market	50,179		—		50,179		—
Certificates of deposit	48		—		48		—
Total cash equivalents	$	282,358	$	—	$	282,358	$	—

The Company has highly-liquid investments classified as cash equivalents, with original maturities of 90 days or less, included in our Consolidated Balance Sheets. The Company utilizes Level 2 fair value determinations derived from directly or indirectly observable (market based) information to determine the fair value of these highly liquid investments. The Company has certain cash and cash equivalents that are invested on an overnight basis in repurchase agreements, money markets and certificates of deposit. The value of overnight repurchase agreements is determined based upon the quoted market prices for the treasury securities associated with the repurchase agreements. The value of money market instruments is the financial institutions' month-end statement, as these instruments are not tradeable and must be settled directly by us with the respective financial institution. Certificates of deposit are valued at cost, plus interest accrued. Given the short-term nature of these instruments, the carrying value approximates fair value. Foreign exchange derivative contracts are carried at fair value, with changes in fair value recognized in the Consolidated Statements of Income. The fair value of the Company's derivatives is derived with reference to a valuation from a derivatives dealer operating in an active market, which the Company accepts as the fair value of these instruments. The fair value represents what would be received and or paid by the Company if the contracts were terminated as of the reporting date. Cash collateral received for foreign exchange derivatives is recorded within customer deposits in our Consolidated Balance Sheet at December 31, 2017. Cash collateral paid for foreign exchange derivatives is recorded within restricted cash in our Consolidated Balance Sheet at December 31, 2017.

The level within the fair value hierarchy and the measurement technique are reviewed quarterly. Transfers between levels are deemed to have occurred at the end of the quarter. There were no transfers between fair value levels during the periods presented for 2017 and 2016.

The Company’s assets that are measured at fair value on a nonrecurring basis and are evaluated with periodic testing for impairment include property, plant and equipment, investments, goodwill and other intangible assets. Estimates of the fair value of assets acquired and liabilities assumed in business combinations are generally developed using key inputs such as management’s projections of cash flows on a held-and-used basis (if applicable), discounted as appropriate, management’s projections of cash flows upon disposition and discount rates. Accordingly, these fair value measurements are in Level 3 of the fair value hierarchy. See footnote 2 for discussion of Masternaut's other than temporary decline in fair value during the year.

The fair value of the Company’s cash, accounts receivable, securitized accounts receivable and related facility, prepaid expenses and other current assets, accounts payable, accrued expenses, customer deposits and short-term borrowings approximate their respective carrying values due to the short-term maturities of the instruments. The carrying value of the Company’s debt obligations approximates fair value as the interest rates on the debt are variable market based interest rates that reset on a quarterly basis. These are each Level 2 fair value measurements, except for cash, which is a Level 1 fair value measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2017
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity On February 4, 2016, the Company's Board of Directors approved a stock repurchase program (the "Program") under which the Company may purchase up to an aggregate of $500 million of its common stock over the following 18 months period. On July 27, 2017, the Company's Board of Directors authorized an increase in the size of the Program by an additional $250 million and an extension of the Program by an additional 18 months. On November 1, 2017, the Company announced that its Board of Directors had authorized an increase in the size of the Program by an additional $350 million, resulting in total aggregate repurchases authorized under the Program of $1.1 billion. With the increase and giving effect to the Company's $590.1 million of previous repurchases, the Company may repurchase up to $510 million in shares of its common stock at any time prior to February 1, 2019. Any stock repurchases may be made at times and in such amounts as deemed appropriate. The timing and amount of stock repurchases, if any, will depend on a variety of factors including the stock price, market conditions, corporate and regulatory requirements, and any additional constraints related to material inside information the Company may possess. Any repurchases have been and are expected to be funded by a combination of available cash flow from the business, working capital and debt. On August 3, 2017, as part of the Program, the Company entered an Accelerated Share Repurchase agreement ("ASR Agreement") with a third-party financial institution to repurchase $250 million of its common stock. Pursuant to the ASR Agreement, the Company delivered $250 million in cash and received 1,491,647 shares based on a stock price of $142.46 on August 7, 2017. The ASR Agreement was completed on September 7, 2017, at which time the Company received 263,012 additional shares based on a final weighted average per share purchase price during the repurchase period of $142.48. The Company accounted for the ASR Agreement as two separate transactions: (i) as shares of reacquired common stock for the shares delivered to the Company upon effectiveness of the ASR Agreement and (ii) as a forward contract indexed to the Company's common stock for the undelivered shares. The initial delivery of shares was included in treasury stock at cost and results in an immediate reduction of the outstanding shares used to calculate the weighted average common shares outstanding for basic and diluted earnings per share. The forward contracts indexed to the Company's own common stock met the criteria for equity classification, and these amounts were initially recorded in additional paid-in capital and then reclassified to treasury stock upon completion of the ASR agreement. Since the beginning of the Program, 4,114,104 shares for an aggregate purchase price of $590.1 million have been repurchased. There were 2,854,959 common shares totaling $402.4 million repurchased under the Program during 2017.

Stock Based Compensation

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Based Compensation

The Company accounts for stock-based compensation pursuant to relevant authoritative guidance, which requires measurement of compensation cost for all stock awards at fair value on the date of grant and recognition of compensation, net of estimated forfeitures, over the requisite service period for awards expected to vest. The Company has Stock Incentive Plans (the Plans) pursuant to which the Company’s board of directors may grant stock options or restricted stock to employees. The Company is authorized to issue grants of restricted stock and stock options to purchase up to 26,963,150 shares for the years ended December 31, 2017, 2016 and 2015, respectively. On May 13, 2013, the Company’s stockholders authorized an increase of 6,500,000 shares of common stock available for grant pursuant to the 2010 Equity Compensation Plan. Giving effect to this increase, there were 277,821 additional shares remaining available for grant under the Plans at December 31, 2017.

On February 7, 2018, the stockholders of the Company approved the FleetCor Technologies, Inc. Amended and Restated 2010 Equity Incentive Plan (the "Amended Plan"). The Amended Plan was authorized and approved by the Company's Board of Directors on December 20, 2017, and Company's stockholders at a special meeting held on February 7, 2018. The Amended Plan amends the Registrant’s existing 2010 Equity Incentive Plan (as amended, the "Prior Plan") to, among other things, increase the number of shares of common stock available for issuance from 13,250,000 to 16,750,000 and make certain other amendments to the Prior Plan.

The table below summarizes the expense recognized within general and administrative expenses in the Consolidated Statements of Income related to share-based payments recognized for the years ended December 31 (in thousands):



	2017		2016		2015
Stock options	$	56,400	$	35,234	$	44,260
Restricted stock	36,897		28,712		45,862
Stock-based compensation	$	93,297	$	63,946	$	90,122

The tax benefits recorded on stock based compensation were $48.6 million, $35.0 million and $35.7 million for the years ended December 31, 2017, 2016 and 2015, respectively.

The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation as of December 31, 2017 (cost in thousands):

Stock Options

The following summarizes the changes in the number of shares of common stock under option for the following periods (shares and aggregate intrinsic value in thousands):



	Shares		Weighted Average Exercise Price		Options Exercisable at End of Year	Weighted Average Exercise Price of Exercisable Options		Weighted Average Fair Value of Options Granted During the Year		Aggregate Intrinsic Value
Outstanding at December 31, 2014	5,131		$	58.71	2,370	$	21.75			$	461,770
Granted	654		154.56					$	35.32
Exercised	(586	)	33.97							63,863
Forfeited	(196	)	95.16
Outstanding at December 31, 2015	5,003		72.72		2,545	26.82				351,277
Granted	1,780		133.33					$	28.61
Exercised	(500	)	42.36							49,592
Forfeited	(137	)	140.67
Outstanding at December 31, 2016	6,146		91.20		3,429	55.00				309,238
Granted	2,885		145.35					$	32.57
Exercised	(633	)	71.43							76,546
Forfeited	(367	)	144.51
Outstanding at December 31, 2017	8,031		$	109.78	4,029	$	75.80			$	663,815
Expected to vest at December 31, 2017	8,031		$	109.78

The following table summarizes information about stock options outstanding at December 31, 2017 (shares in thousands):



Exercise Price	Options Outstanding	Weighted Average Remaining Vesting Life in Years	Options Exercisable
$10.00 – 58.02	2,218	0.00	2,218
74.99 – 111.09	104	0.03	90
114.90 – 138.47	2,029	0.77	577
140.23-150.74	2,593	1.60	906
151.16-158.24	618	1.48	195
165.96-174.35	469	3.08	43
	8,031		4,029

The aggregate intrinsic value of stock options exercisable at December 31, 2017 was $469.8 million. The weighted average remaining contractual term of options exercisable at December 31, 2017 was 5.0 years.

The fair value of stock option awards granted was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions for grants or modifications during the years ended December 31 as follows:



	2017		2016		2015
Risk-free interest rate	1.65	%	1.08	%	1.47	%
Dividend yield	—		—		—
Expected volatility	28.00	%	27.29	%	27.77	%
Expected life (in years)	3.4		3.5		4.5

The weighted-average remaining contractual life for options outstanding was 6.9 years at December 31, 2017.

Restricted Stock

There were no restricted stock shares granted with market based vesting conditions in 2017, 2016 and 2015. The following table summarizes the changes in the number of shares of restricted stock and restricted stock units for the following periods (shares in thousands):



	Shares		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2014	716		$	121.38
Granted	126		151.33
Cancelled	(52	)	135.92
Issued	(293	)	85.40
Outstanding at December 31, 2015	497		149.40
Granted	152		128.90
Cancelled	(41	)	145.25
Issued	(229	)	151.72
Outstanding at December 31, 2016	379		140.39
Granted	238		141.99
Cancelled	(48	)	152.95
Issued	(204	)	136.85
Outstanding at December 31, 2017	365		$	155.58

Acquisitions

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Acquisitions

2017 Acquisitions

During 2017, the Company completed acquisitions with an aggregate purchase price of $720.8 million, net of cash acquired of $96.2 million and inclusive of notes payable of $29.3 million. During 2017, the Company made investments in other businesses of $39 million.

Cambridge Global Payments

On August 9, 2017, the Company acquired Cambridge, a leading business to business (B2B) international payments provider, for approximately $616.1 million in cash, net of cash acquired of $94.5 million and inclusive of a note payable of $23.8 million. Cambridge processes B2B cross-border payments, assisting business clients in making international payments. The purpose of this acquisition is to further expand the Company's corporate payments footprint. The Company financed the acquisition using a combination of existing cash and borrowings under its existing credit facility. The results from Cambridge are reported in its North America segment. The following table summarizes the preliminary acquisition accounting for Cambridge (in thousands):



Restricted cash	$	37,666
Trade and other receivables	61,801
Prepaid expenses and other current assets	15,190
Property and equipment	7,106
Other long term assets	10,025
Goodwill	500,391
Customer relationships and other identifiable intangible assets	271,793
Liabilities assumed	(194,552		)
Deferred tax liabilities	(93,364		)
Aggregate purchase price	$	616,056

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Banking relationships	20	$	705
Trade name and trademarks	Indefinite	35,110
Technology	5	16,039
Customer relationships - excluding Accounts Payable Solutions	7-18	178,190
Customer relationships - Accounts Payable Solutions	20	41,749
		$	271,793

Along with the Company's acquisition of Cambridge, the Company signed noncompete agreements with certain parties with an estimated fair value of $5.8 million. Acquisition accounting for Cambridge is preliminary as the Company is still completing the valuation for goodwill, intangible assets, income taxes, certain acquired contingencies, derivatives and the working capital adjustment period remains open. Goodwill recorded is comprised primarily of expected synergies from combining the operations of the Company and Cambridge, as well as assembled workforce.

Other

During 2017, the Company acquired Creative Lodging Solutions ("CLS"), a small lodging tuck-in business, and a fuel card provider in Russia for approximately $104.7 million, net of cash acquired of $1.8 million and inclusive of a note payable of $5.5 million. The Company financed the acquisitions using a combination of existing cash and borrowings under its existing credit facility. The accounting for these acquisitions is preliminary as the Company is still completing the valuation of goodwill, intangible assets, income taxes and evaluation of acquired contingencies.

The following table summarizes the preliminary acquisition accounting for the acquisitions (in thousands):



Trade and other receivables	$	37,986
Prepaid expenses and other	1,426
Property and equipment	5,745
Goodwill	55,711
Other intangible assets	53,259
Liabilities assumed	(32,202		)
Deferred tax liabilities	(17,217		)
Aggregate purchase prices	$	104,708

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Trade name and trademarks	1	$	180
Technology	4	1,750
Customer relationships	8	51,329
		$	53,259

Along with the Company's acquisition of CLS, the Company signed noncompete agreements with certain parties with an estimated fair value of $4.5 million.

2016 Acquisitions

During 2016, the Company completed acquisitions with an aggregate purchase price of $1.3 billion, net of cash acquired of $51.3 million, which includes deferred payments made during the period related to prior acquisitions of $6.1 million.

During 2016, the Company made additional investments of $7.9 million related to its equity method investment at Masternaut. The Company also received a $9.2 million return of its investment in Masternaut in 2016.

STP

On August 31, 2016, the Company acquired all of the outstanding stock of Serviços e Tecnologia de Pagamentos S.A. (“STP”), for approximately $1.23 billion, net of cash acquired of $40.2 million. STP is an electronic toll payments company in Brazil and provides cardless fuel payments at a number of Shell sites throughout Brazil. The purpose of this acquisition was to expand the Company's presence in the toll market in Brazil. The Company financed the acquisition using a combination of existing cash and borrowings under its existing credit facility. Results from the acquired business have been reported in the Company's international segment since the date of acquisition. The following table summarizes the acquisition accounting for STP (in thousands):



Trade and other receivables	$	243,157
Prepaid expenses and other	5,757
Deferred tax assets	20,644
Property and equipment	44,226
Other long term assets	14,280
Goodwill	663,040
Customer relationships and other identifiable intangible assets	548,682
Liabilities assumed	(312,297		)
Aggregate purchase price	$	1,227,489

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Customer relationships	8.5-20	$	348,414
Trade names and trademarks	Indefinite	154,851
Technology	6	45,417
		$	548,682

In connection with the STP acquisition, the Company recorded contingent liabilities aggregating $15.1 million, recorded within other noncurrent liabilities and accrued expenses in the Consolidated Balance Sheet at the date of acquisition. A portion of these acquired liabilities have been indemnified by the respective sellers. As a result, an indemnification asset of $15.1 million was recorded within prepaid and other long term assets in the Consolidated Balance Sheet. Along with the Company's acquisition of STP, the Company signed noncompete agreements with certain parties with an estimated fair value of $23.2 million.

Goodwill recognized is comprised primarily of expected synergies from combining the operations of the Company and STP, as well as the assembled workforce. The goodwill and definite lived intangibles acquired with STP will be deductible for tax purposes.

Other

During 2016, the Company acquired additional fuel card portfolios in the U.S. and the United Kingdom, additional Shell fuel card markets in Europe and Travelcard in the Netherlands totaling approximately $76.7 million, net of cash acquired of $11.1 million. The following table summarizes the acquisition accounting for these acquisitions (in thousands):



Trade and other receivables	$	27,810
Prepaid expenses and other	5,097
Property and equipment	992
Goodwill	28,540
Other intangible assets	61,823
Deferred tax asset	146
Deferred tax liabilities	(5,123		)
Liabilities assumed	(42,550		)
Aggregate purchase prices	$	76,735

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Customer relationships and other identifiable intangible assets	10-18	$	61,823
		$	61,823

2015 Acquisitions

During 2015, the Company completed acquisitions of Shell portfolios related to our fuel card businesses in Europe, as well as a small acquisition internationally, with an aggregate purchase price of $46.3 million, made additional investments of $8.4 million related to its equity method investment at Masternaut and deferred payments of $3.4 million related to acquisitions occurring in prior years.

The following table summarizes the acquisition accounting for the acquisitions completed during 2015 (in thousands):



Trade and other receivables	$	521
Prepaid expenses and other	996
Property and equipment	197
Goodwill	9,561
Other intangible assets	39,791
Deferred tax liabilities	(2,437		)
Liabilities assumed	(2,331		)
Aggregate purchase prices	$	46,298

The final estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

A summary of changes in the Company’s goodwill by reportable business segment is as follows (in thousands):



	December 31, 2016		Acquisitions		Dispositions			Acquisition Accounting Adjustments		Foreign Currency		December 31, 2017
Segment
North America	$	2,640,409	$	534,777	$	(92,046	)	$	—	$	983	$	3,084,123
International	1,554,741		21,325		—			3,752		51,882		1,631,700
	$	4,195,150	$	556,102	$	(92,046	)	$	3,752	$	52,865	$	4,715,823



	December 31, 2015		Acquisitions		Acquisition Accounting Adjustments			Foreign Currency			December 31, 2016
Segment
North America	$	2,640,409	$	—	$	—		$	—		$	2,640,409
International	905,625		687,828		(521		)	(38,191		)	1,554,741
	$	3,546,034	$	687,828	$	(521	)	$	(38,191	)	$	4,195,150

At December 31, 2017 and 2016, approximately $988.0 million and $362.6 million of the Company’s goodwill is deductible for tax purposes, respectively. Acquisition accounting adjustments recorded in 2017 and 2016 are a result of the Company completing its acquisition accounting and working capital adjustments for certain prior year acquisitions.

Other intangible assets consisted of the following at December 31 (in thousands):



		2017							2016
	Weighted- Avg Useful Life (Years)	Gross Carrying Amounts		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amounts		Accumulated Amortization			Net Carrying Amount
Customer and vendor agreements	17.0	$	2,698,428	$	(605,347	)	$	2,093,081	$	2,449,389	$	(458,118	)	$	1,991,271
Trade names and trademarks—indefinite lived	N/A	499,587		—			499,587		510,952		—			510,952
Trade names and trademarks—other	13.8	2,986		(2,207		)	779		2,746		(2,021		)	725
Software	6.0	219,019		(116,654		)	102,365		211,331		(85,167		)	126,164
Non-compete agreements	4.5	48,221		(19,076		)	29,145		35,191		(11,070		)	24,121
Total other intangibles		$	3,468,241	$	(743,284	)	$	2,724,957	$	3,209,609	$	(556,376	)	$	2,653,233

Changes in foreign exchange rates resulted in a $24.2 million increase to the carrying values of other intangible assets in the year ended December 31, 2017. Amortization expense related to intangible assets for the years ended December 31, 2017, 2016 and 2015 was $211.8 million, $161.6 million and $159.7 million, respectively. As part of the Company's plan to exit the telematics business, on July 27, 2017, the Company sold NexTraq, a U.S. fleet telematics business, to Michelin Group, resulting in a $41.8 million reduction in the net carrying values of other intangible assets.

The future estimated amortization of intangibles at December 31, 2017 is as follows (in thousands):



2018	$	220,506
2019	206,174
2020	186,259
2021	182,156
2022	171,177
Thereafter	1,259,098

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment, net consisted of the following at December 31 (in thousands):



	Estimated Useful Lives (in Years)	2017			2016
Computer hardware and software	3 to 5	$	244,655		$	197,958
Card-reading equipment	4 to 6	25,462			25,553
Furniture, fixtures, and vehicles	2 to 10	18,846			15,418
Buildings and improvements	5 to 50	21,603			14,432
Property, plant and equipment, gross		310,566			253,361
Less: accumulated depreciation		(130,509		)	(110,857		)
Property, plant and equipment, net		$	180,057		$	142,504

Depreciation expense related to property and equipment for the years ended December 31, 2017, 2016 and 2015 was $46.6 million, $36.5 million and $30.5 million, respectively. Depreciation expense includes $21.8 million, $17.7 million and $11.6 million, for capitalized computer software costs for the years ended December 31, 2017, 2016 and 2015, respectively. At December 31, 2017 and 2016, the Company had unamortized computer software costs of $75.8 million and $60.2 million, respectively.

Accrued Expenses

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following at December 31 (in thousands):



	2017		2016
Accrued bonuses	$	15,119	$	15,866
Accrued payroll and severance	18,500		10,704
Accrued taxes	63,698		104,623
Accrued commissions/rebates	47,198		43,467
Other	93,957		64,152
	$	238,472	$	238,812

Debt

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Debt

The Company’s debt instruments at December 31 consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands):



	2017		2016
Term notes payable—domestic(a), net of discounts	$	2,993,667	$	2,639,279
Revolving line of credit A Facility—domestic(a)	635,000		465,000
Revolving line of credit B Facility—foreign(a)	28,334		123,412
Revolving line of credit B Facility—swing line(a)	6,879		26,608
Other(c)	43,736		12,934
Total notes payable and other obligations	3,707,616		3,267,233
Securitization Facility(b)	811,000		591,000
Total notes payable, credit agreements and Securitization Facility	$	4,518,616	$	3,858,233
Current portion	$	1,616,512	$	1,336,506
Long-term portion	2,902,104		2,521,727
Total notes payable, credit agreements and Securitization Facility	$	4,518,616	$	3,858,233

_____________________

(a)

The Company has a Credit Agreement, which has been amended multiple times and provides for senior secured credit facilities consisting of a revolving A credit facility in the amount of $1.285 billion, a term loan A facility in the amount of $2.69 billion and a term loan B facility in the amount of $350 million as of December 31, 2017. The revolving credit facility consists of (a) a revolving A credit facility in the amount of $800 million, with sublimits for letters of credit and swing line loans, (b) a revolving B facility in the amount of $450 million for swing line loans and multi-currency borrowings and, (c) a revolving C facility in the amount of $35 million for multi-currency borrowings in Australian Dollars or New Zealand Dollars. The Credit Agreement also includes an accordion feature for borrowing an additional $750 million in term A, term B or revolver A debt. Proceeds from the credit facilities may be used for working capital purposes, acquisitions, and other general corporate purposes. On January 20, 2017, the Company entered into the second amendment to the Credit Agreement, which established a new term B loan. On August 2, 2017, the Company entered into the third amendment to the Credit Agreement, which increased the total facility by $708.7 million and extended the terms of the credit facilities to August 2, 2022 for the term A loan, revolving loans, and letters of credit under the Credit Agreement and August 2, 2024 for the term B loan.

Interest on amounts outstanding under the Credit Agreement (other than the term B loan) accrues based on the British Bankers Association LIBOR Rate (the Eurocurrency Rate), plus a margin based on a leverage ratio, or our option, the Base Rate (defined as the rate equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the prime rate announced by Bank of America, N.A., or (c) the Eurocurrency Rate plus 1.00%) plus a margin based on a leverage ratio. Interest on the term B loan facility accrues based on the Eurocurrency Rate plus 2.00% for Eurocurrency Loans and at 1.00% for Base Rate Loans. In addition, the Company pays a quarterly commitment fee at a rate per annum ranging from 0.20% to 0.40% of the daily unused portion of the credit facility.

At December 31, 2017, the interest rate on the term A loan and the domestic revolving A facility was 3.32%, the interest rate on the foreign revolving B facility was 2.25%, the interest rate on the revolving B facility foreign swing line of credit was 2.22% and the interest rate on the term B loan was 3.57%. The unused credit facility was 0.35% for all revolving facilities at December 31, 2017.

The term loans are payable in quarterly installments and are due on the last business day of each March, June, September, and December with the final principal payment due on the respective maturity date. Borrowings on the revolving line of credit are repayable at the option of one, two, three or nine months after borrowing, depending on the term of the borrowing on the facility. Borrowings on the foreign swing line of credit are due no later than ten business days after such loan is made.

At December 31, 2017, the Company had $2.7 billion in borrowings outstanding on term A loan, excluding the related debt discount, $349.1 million in borrowings outstanding on term B loan, excluding the related debt discount, $635 million in borrowings outstanding on the domestic revolving A facility, $28.3 million in borrowings outstanding on the foreign revolving B facility and $6.9 million in borrowings outstanding on the foreign swing line revolving B facility. The Company has unamortized debt discounts of $6.0 million related to the term A facility and $0.7 million related to the term B facility and deferred financing costs of $5.1 million at December 31, 2017. In August 2017, the Company expensed $3.3 million and capitalized $10.6 million of debt issuance costs associated with the refinancing of its Credit Facility. The effective interest rate incurred on term loans was 2.69% and 2.57% during 2017 and 2016, respectively, related to the discount on debt. Principal payments of $423.2 million were made on the term loans during 2017.

(b)

The Company is party to a $950 million receivables purchase agreement (Securitization Facility) that was amended and restated on November 14, 2017. There is a program fee equal to one month LIBOR plus 0.90% or the Commercial Paper Rate plus 0.80% as of December 31, 2017 and one month LIBOR or the Commercial Paper Rate plus 0.90% as of December 31, 2016. The program fee was 1.55% plus 0.86% as of December 31, 2017 and 0.85% plus 0.90% as of December 31, 2016. The unused facility fee is payable at a rate of 0.40% as of December 31, 2017 and 2016. The Securitization Facility provides for certain termination events, which includes nonpayment, upon the occurrence of which the administrator may declare the facility termination date to have occurred, may exercise certain enforcement rights with respect to the receivables, and may appoint a successor servicer, among other things.


(c)	Other includes the long term portion of contingent consideration and deferred payments associated with certain of our businesses.

The Company was in compliance with all financial and non-financial covenants at December 31, 2017.

The contractual maturities of the Company’s notes payable and other obligations at December 31, 2017 are as follows (in thousands):



2018	$	805,512
2019	173,927
2020	136,197
2021	136,337
2022	2,121,177
Thereafter	334,466

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

On December 22, 2017, the U.S. government enacted tax legislation referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, (1) reducing the U.S. federal corporate tax rate from 35 percent to 21 percent; (2) requiring companies to pay a one-time Deemed Repatriation Transition Tax (“Transition Tax”) on certain unrepatriated earnings of foreign subsidiaries that can be paid over eight years; (3) a new provision designed to tax global intangible low-taxed income (GILTI), which allows for the possibility of using foreign tax credits (FTCs) and a deduction of up to 50 percent to offset the income tax liability (subject to some limitations); (4) the repeal of the domestic production activity deduction beginning January 1, 2018; (5) limitations on the deductibility of certain executive compensation; and (6) a new limitation on deductible interest expense beginning January 1, 2018.

At December 31, 2017, the Company has not completed its accounting for the tax effects of enactment of the Tax Act. However, as described below, the Company has made a reasonable estimate of the effects on its existing deferred tax balances and the one-time Transition Tax. In other cases, the Company has not been able to make a reasonable estimate and continue to account for those items based on its existing accounting under ASC 740 ("Income Taxes"), and the provisions of the tax laws that were in effect immediately prior to enactment. The Company was not able to make a reasonable estimate of the impact of the new limitations on the deductibility of certain executive compensation.

For those items for which it was able to determine a reasonable estimate, the Company recognized a provisional net tax benefit of $128.2 million, which is included as a component of income tax expense from continuing operations. In all cases, the Company will continue to make and refine its calculations as additional analysis is completed. In addition, it is anticipated that the U.S. Treasury Department will publish new regulations providing some clarity to many of the provisions included in the new act. As a result, the Company's estimates may also be affected as it gains a more thorough understanding of the Tax Act via new regulations and other guidance.

The SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act ("SAB 118"), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act.

In connection with its initial analysis of the impact of the Tax Act, the Company has recorded a net tax benefit of $128.2 million in the period ending December 31, 2017. This net benefit primarily consists of a net benefit for the corporate rate reduction on the deferred tax assets and liabilities of $210 million and a net expense for the Transition Tax of $81.8 million. For various reasons that are discussed more fully below, the Company has not completed its accounting for the income tax effects of certain elements of the Tax Act. However, the Company was able to make reasonable estimates of the effects of the elements for which its analysis is not yet complete and recorded provisional adjustments.

The Company's accounting for the following elements of the Tax Act are incomplete. However, the Company was able to make reasonable estimates of certain effects and, therefore, recorded provisional adjustments.

Deferred tax effects

The Tax Act reduces the corporate tax rate to 21 percent, effective January 1, 2018. For its deferred tax assets and deferred tax liabilities, the Company has recorded a provisional decrease of $210 million with a corresponding net adjustment to deferred tax benefit of $210 million for the year ended December 31, 2017. While the Company was able to make a reasonable estimate of the impact of the reduction in corporate rate, the impact may be affected by other analysis related to the Tax Act, including, but not limited to, FLEETCOR's calculation of deemed repatriation of deferred foreign income and the state tax effect of adjustments made to federal temporary differences.

One time transition tax

The Transition Tax is a tax on previously untaxed accumulated and current earnings and profits ("E&P") of certain of the Company's foreign subsidiaries. To determine the amount of the Transition Tax, the Company must determine, in addition to other factors, the amount of post-1986 E&P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. The Company was able to make a reasonable estimate of the Transition Tax and recorded a provisional Transition Tax obligation of $81.8 million. However, the Company is continuing to gather additional information to more precisely compute the amount of the Transition Tax. Further, the Transition Tax is based in part on the amount of accumulated and current E&P held in cash and other specified assets. This amount may change when the Company finalizes the calculation of post-1986 foreign E&P previously deferred from U.S. federal taxation and finalize the amounts held in cash or other specified assets. Double tax relief is available for the pool of foreign tax credits attributed to the accumulated and current E&P. The amount of foreign tax credits claimed when the Company finalizes the calculation of the pool of foreign tax credits.

No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the Transition Tax, or any additional outside basis differences inherent in these entities, as these amounts continue to be indefinitely reinvested in foreign operations. The Company has not been able to make a reasonable estimate of the impact of the unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the Transition Tax or additional outside basis differences in these entities.

The Company has also not been able to make a reasonable estimate of the impact of the new limitations on the deductibility of certain executive compensation and continues to account for that item based on its existing accounting under ASC 740 and the provisions of the tax laws that were in effect immediately prior to enactment.

Global Intangible Low-Taxed Income

The Tax Act subjects a U.S. shareholder to current tax on global intangible low-taxed income (GILTI) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740 No. 5, "Accounting for Global Intangible Low-Taxed Income", states that an entity can make an accounting policy election to either recognize deferred taxes for temporary differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. Based on the Company's preliminary assessment of the GILTI tax, the Company believes it will recognize tax on GILTI as a period expense.

Income before the provision for income taxes is attributable to the following jurisdictions for years ended December 31 (in thousands) :



	2017		2016		2015
United States	$	524,669	$	383,427	$	304,743
Foreign	368,921		259,492		231,261
Total	$	893,590	$	642,919	$	536,004

The provision for income taxes for the years ended December 31 consists of the following (in thousands):



	2017			2016			2015
Current:
Federal	$	303,514		$	147,406		$	82,926
State	19,234			10,725			8,051
Foreign	78,354			61,084			51,970
Total current	401,102			219,215			142,947
Deferred:
Federal	(255,188		)	(18,723		)	36,723
State	276			1,608			1,525
Foreign	7,200			(11,566		)	(7,622		)
Total deferred	(247,712		)	(28,681		)	30,626
Total provision	$	153,390		$	190,534		$	173,573

The provision for income taxes differs from amounts computed by applying the U.S. federal tax rate of 35% to income before income taxes for the years ended December 31 due to the following (in thousands):



	2017					2016					2015
Computed “expected” tax expense	$	312,756		35.0	%	$	225,022		35.0	%	$	187,601		35.0	%
Changes resulting from:
Change in valuation allowance	18,289			2.0		11,952			1.9		20,243			3.8
Foreign income tax differential	(38,695		)	(4.3	)	(25,533		)	(4.0	)	(23,718		)	(4.4	)
State taxes net of federal benefits	12,884			1.4		9,439			1.5		6,711			1.2
Foreign-sourced nontaxable income	(8,836		)	(1.0	)	(13,659		)	(1.2	)	(10,573		)	(2.0	)
IRC Section 199 deduction	(8,844		)	(1.0	)	(7,731		)	(1.2	)	(10,221		)	(1.9	)
Excess tax benefits related to stock-based compensation	(18,058		)	(2.0	)	(11,974		)	(1.9	)	—			—
Subpart F income/transition tax - federal only	195,779			21.9		—			—		—			—
Foreign tax credit/transition tax - federal only	(113,955		)	(12.8	)	—			—		—			—
Tax reform - federal rate reduction	(209,966		)	(23.5	)	—			—		—			—
Other	12,036			1.3		3,018			(0.4	)	3,530			0.7
Provision for income taxes	$	153,390		17.2	%	$	190,534		29.7	%	$	173,573		32.4	%

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31 are as follows (in thousands):



	2017			2016
Deferred tax assets:
Accounts receivable, principally due to the allowance for doubtful accounts	$	6,752		$	7,148
Accrued expenses not currently deductible for tax	442			2,647
Stock based compensation	37,274			41,415
Income tax credits	376			376
Net operating loss carry forwards	41,168			45,969
Investments	37,804			53,379
Accrued escheat	4,768			7,290
Fixed assets, intangibles and other	12,604			15,622
Deferred tax assets before valuation allowance	141,188			173,846
Valuation allowance	(59,349		)	(76,395		)
Deferred tax assets, net	81,839			97,451
Deferred tax liabilities:
Intangibles—including goodwill	(508,958		)	(687,443		)
Basis difference in investment in foreign subsidiaries	(39,287		)	(48,354		)
Prepaid expenses	(1,605		)	(3,644		)
Property and equipment, principally due to differences between book and tax depreciation, and other	(49,100		)	(24,157		)
Deferred tax liabilities	(598,950		)	(763,598		)
Net deferred tax liabilities	$	(517,111	)	$	(666,147	)

The Company’s deferred tax balances are classified in its balance sheets as of December 31 as follows (in thousands):



	2017			2016
Long term deferred tax assets and liabilities:
Long term deferred tax assets	1,801			2,433
Long term deferred tax liabilities	(518,912		)	(668,580		)
Net long term deferred taxes	(517,111		)	(666,147		)
Net deferred tax liabilities	$	(517,111	)	$	(666,147	)

The valuation allowance for deferred tax assets at December 31, 2017 and 2016 was $59.3 million and $76.4 million, respectively. These valuation allowances related to basis differences in equity method investments, capital loss carryforwards, income tax credits, foreign net operating loss carryforwards and state net operating loss carryforwards. The net change in the total valuation allowance for the years ended December 31, 2017 and 2016 was a decrease of $17.0 million and an increase of $13.8 million, respectively. The valuation decrease from the prior year was due to the U.S. tax rate reduction that resulted from the Tax Act, which was offset by an increase in basis differences related to equity method investments completed in 2014. The increase in 2016 was primarily due to changes in the Company's deferred tax asset related to basis differences in an equity method investment.

The valuation allowance for deferred tax assets changed during 2017 as follows (in thousands):



Balances at December 31, 2014	$	27,082
Additions	35,523
Balance at December 31, 2015	62,605
Additions	13,790
Balance at December 31, 2016	76,395
Additions	5,332
Reduction in valuation allowance due to rate change from Tax Act	(22,378		)
Balance at December 31, 2017	$	59,349

The valuation allowances relate to basis differences in cost method investments, capital loss carryforwards, income tax credits, foreign net operating loss carryforwards and state net operating loss carryforwards. The net change in the total valuation allowance for the year ended December 31, 2017 was a decrease of $17.0 million. The valuation decrease from the prior year was due to the U.S. tax rate reduction that resulted from the Tax Act, which was partially offset by an increase in the basis differences related to cost method investments. The increase in 2015 and 2016 were primarily due to changes in the Company's deferred tax asset related to basis differences in a cost method investment.

As of December 31, 2017, the Company had a net operating loss carryforward for state income tax purposes of approximately $590.0 million that is available to offset future state taxable income through 2029. Additionally, the Company had $44.0 million net operating loss carryforwards for foreign income tax purposes that are available to offset future foreign taxable income. The foreign net operating loss carryforwards will not expire in future years.

The Company recognizes interest and penalties on unrecognized tax benefits (including interest and penalties calculated on uncertain tax positions on which the Company believes it will ultimately prevail) within the provision for income taxes on continuing operations in the consolidated financial statements. This policy is a continuation of the Company's policy prior to the adoption of the guidance regarding uncertain tax positions. During 2017 and 2016, the Company had recorded accrued interest and penalties related to the unrecognized tax benefits of $1.3 million and $5.9 million, respectively.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits including interest for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):



Unrecognized tax benefits at December 31, 2014	$	18,641
Additions based on tax provisions related to the current year	9,079
Additions based on tax provisions related to the prior year	477
Deductions based on settlement/expiration of prior year tax positions	(6,363		)
Unrecognized tax benefits at December 31, 2015	21,834
Additions based on tax provisions related to the current year	3,332
Additions based on tax provisions related to the prior year	2,496
Deductions based on settlement/expiration of prior year tax positions	(1,507		)
Unrecognized tax benefits at December 31, 2016	26,155
Additions based on tax provisions related to the current year	4,143
Additions for tax positions due to acquisitions	9,208
Additions based on tax provisions related to the prior year	1,171
Deductions based on settlement/expiration of prior year tax positions	(9,119		)
Unrecognized tax benefits at December 31, 2017	$	31,558

As of December 31, 2017, the Company had total unrecognized tax benefits of $31.6 million of which $31.6 million, if recognized, would affect its effective tax rate. It is not anticipated that there are any unrecognized tax benefits that will significantly increase or decrease within the next twelve months.

The Company files numerous consolidated and separate income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The statute of limitations for the Company’s U.S. federal income tax returns has expired for years prior to 2014. The statute of limitations for the Company’s U.K. income tax returns has expired for years prior to 2015. The statute of limitations has expired for years prior to 2014 for the Company’s Czech Republic income tax returns, 2014 for the Company’s Russian income tax returns, 2012 for the Company’s Mexican income tax returns, 2012 for the Company’s Brazilian income tax returns, 2012 for the Company’s Luxembourg income tax returns, 2013 for the Company’s New Zealand income tax returns, and 2015 for the Company’s Australian income tax returns.

Leases

12 Months Ended

Dec. 31, 2017

Leases [Abstract]

Leases

The Company enters into noncancelable operating lease agreements for equipment, buildings and vehicles. The minimum lease payments for the noncancelable operating lease agreements are as follows (in thousands):



2018	$	19,343
2019	14,362
2020	12,132
2021	10,661
2022	10,195
Thereafter	25,335

Rent expense for noncancelable operating leases approximated $18.4 million, $15.1 million and $14.1 million for the years ended December 31, 2017, 2016 and 2015, respectively. The leases are generally renewable at the Company’s option for periods of one to five years.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of business, the Company is involved in various pending or threatened legal actions, arbitration proceedings, claims, subpoenas, and matters relating to compliance with laws and regulations (collectively, legal proceedings). Based on our current knowledge, management presently does not believe that the liabilities arising from these legal proceedings will have a material adverse effect on our consolidated financial condition, results of operations or cash flows. However, it is possible that the ultimate resolution of these legal proceedings could have a material adverse effect on our results of operations and financial condition for any particular period. Shareholder Class Action and Derivative Lawsuits On June 14, 2017, a shareholder filed a class action complaint in the United States District Court for the Northern District of Georgia against the Company and certain of its officers and directors on behalf of all persons who purchased or otherwise acquired the Company’s stock between February 5, 2016 and May 2, 2017. On October 13, 2017, the shareholder filed an amended complaint asserting claims on behalf of a putative class of all persons who purchased or otherwise acquired the Company's common stock between February 4, 2016 and May 3, 2017. The complaint alleges that the defendants made false or misleading statements regarding fee charges and the reasons for its earnings and growth in certain press releases and other public statements in violation of the federal securities laws. Plaintiff seeks class certification, unspecified monetary damages, costs, and attorneys’ fees. The Company disputes the allegations in the complaint and intends to vigorously defend against the claims. On July 10, 2017, a shareholder derivative complaint was filed against the Company and certain of the Company’s directors and officers in the United States District Court for the Northern District of Georgia seeking recovery on behalf of the Company. The derivative complaint alleges that the defendants issued a false and misleading proxy statement in violation of the federal securities laws; that defendants breached their fiduciary duties by causing or permitting the Company to make allegedly false and misleading public statements concerning the Company’s fee charges, and financial and business prospects; and that certain defendants breached their fiduciary duties through allegedly improper sales of stock. The complaint seeks unspecified monetary damages on behalf of the Company, corporate governance reforms, disgorgement of profits, benefits and compensation by the defendants, restitution, costs, and attorneys’ and experts’ fees. On August 18, 2017, the court entered an order deferring the case pending a ruling on the defendants' motion to dismiss the putative shareholder class action, or until otherwise agreed to by the parties. The defendants dispute the allegations in the complaint and intend to vigorously defend against the claims. Estimating an amount or range of possible losses resulting from litigation proceedings is inherently difficult and requires an extensive degree of judgment, particularly where the matters involve indeterminate claims for monetary damages, and are in the stages of the proceedings where key factual and legal issues have not been resolved. For these reasons, the Company is currently unable to predict the ultimate timing or outcome of, or reasonably estimate the possible losses or a range of possible losses resulting from the matters described above.

Asset Dispositions	12 Months Ended
Asset Dispositions	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Asset Dispositions	Asset Dispositions Telematics Businesses As part of the Company's plan to exit the telematics business, on July 27, 2017, the Company sold NexTraq, a U.S. fleet telematics business, to Michelin Group for $316.5 million. The Company recorded a pre-tax gain on the disposal of NexTraq of $175.0 million during the third quarter of 2017, which is net of transaction closing costs. The Company recorded tax on the gain of disposal of $65.8 million. The gain on the disposal is included in other (income) expense, net in the accompanying Consolidated Statements of Income. NexTraq had historically been included in the Company's North America segment.

Derivative Financial Instruments Derivative Financial Instruments

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

As a result of the Cambridge acquisition during 2017, the Company writes derivatives, primarily foreign currency forward contracts, option contracts, and swaps, mostly with small and medium size enterprises that are customers and derives a currency spread from this activity. Derivative transactions include:


•	Forward contracts, which are commitments to buy or sell at a future date a currency at a contract price and will be settled in cash.


•	Option contracts, which gives the purchaser, the right, but not the obligation to buy or sell within a specified time a currency at a contracted price that may be settled in cash.


•	Swap contracts, which are commitments to settlement in cash at a future date or dates, usually on an overnight basis.

The credit risk inherent in derivative agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review of the credit risk of these counterparties at the inception of the contract and on an ongoing basis. The Company also monitors the concentration of its contracts with any individual counterparty against limits at the individual counterparty level. The Company anticipates that the counterparties will be able to fully satisfy their obligations under the agreements, but takes action when doubt arises about the counterparties' ability to perform. These actions may include requiring customers to post or increase collateral, and for all counterparties, the possible termination of the related contracts. The Company does not designate any of its foreign exchange derivatives as hedging instruments in accordance with ASC 815.

The aggregate equivalent U.S. dollar notional amount of foreign exchange derivative customer contracts held by the Company as of December 31, 2017 (in millions) is presented in the table below. Notional amounts do not reflect the netting of offsetting trades, although these offsetting positions may result in minimal overall market risk. Aggregate derivative notional amounts can fluctuate from period to period in the normal course of business based on market conditions, levels of customer activity and other factors.



	Net Notional
Foreign exchange contracts:
Swaps	$	515.4
Futures, forwards and spot	3,274.5
Written options	2,934.2
Purchased options	2,314.1
Total	$	9,038.1

The majority of customer foreign exchange contracts are written in major currencies such as the U.S. Dollar, Canadian Dollar, British Pound, Euro and Australian Dollar.

The following table summarizes the fair value of derivatives reported in the Consolidated Balance Sheet as of December 31, 2017 (in millions):



	Fair Value, Gross				Fair Value, Net
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Derivatives - undesignated:
Over the counter	$	80.4	$	68.2	$	39.0	$	26.8
Exchange traded	—		0.1		—		0.1
Foreign exchange contracts	80.4		68.3		39.0		26.9
Cash collateral	12.5		10.9		12.5		10.9
Total net derivative assets and liabilities	$	67.9	$	57.4	$	26.5	$	16.0

The fair values of derivative assets and liabilities associated with contracts that include netting language that the Company believes to be enforceable have been netted to present the Company's net exposure with these counterparties. The Company recognizes all derivative assets, net in prepaid expense and other current assets and all derivative liabilities, net in other current liabilities, both net at the customer level as right of offset exists, in its Consolidated Balance Sheets at their fair value. The gain or loss on the fair value is recognized immediately within revenues, net in the Consolidated Statements of Income. The Company does not offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral. At December 31, 2017, $39.0 million derivative assets and $26.9 million derivative liabilities were recorded in other current assets and other current liabilities, respectively, in the Consolidated Balance Sheet. The Company receives cash from customers as collateral for trade exposures, which is recorded within cash and cash equivalents and customer deposits in the Consolidated Balance Sheet. The customer has the right to recall their collateral in the event exposures move in their favor, they unwind all outstanding trades or they cease to do business with the Company.

Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

The Company reports basic and diluted earnings per share. Basic earnings per share is computed by dividing net income attributable to shareholders of the Company by the weighted average number of common shares outstanding during the reported period. Diluted earnings per share reflect the potential dilution related to equity-based incentives using the treasury stock method.

The calculation and reconciliation of basic and diluted earnings per share for the years ended December 31 (in thousands, except per share data) follows:



	2017		2016		2015
Net income	$	740,200	$	452,385	$	362,431
Denominator for basic earnings per share	91,129		92,597		92,023
Dilutive securities	2,465		2,616		2,116
Denominator for diluted earnings per share	93,594		95,213		94,139
Basic earnings per share	$	8.12	$	4.89	$	3.94
Diluted earnings per share	7.91		4.75		3.85

There were 0.1 million antidilutive shares for the year ended December 31, 2017. Diluted earnings per share for the years ended December 31, 2017, 2016 and 2015 excludes the effect of 0.1 million , 0.4 million and 1.4 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive. There were 0.1 million antidilutive shares for 2016. Diluted earnings per share also excludes the effect of 0.3 million, 0.2 million and 0.2 million shares of performance based restricted stock for which the performance criteria have not yet been achieved for the years ended December 31, 2017, 2016 and 2015, respectively.

Segments

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segments

The Company reports information about its operating segments in accordance with the authoritative guidance related to segments. The Company’s reportable segments represent components of the business for which separate financial information is evaluated regularly by the chief operating decision maker in determining how to allocate resources and in assessing performance. The Company operates in two reportable segments, North America and International. The results from the Cambridge business acquired in the third quarter of 2017 and CLS business acquired in the fourth quarter of 2017 are reported in the Company's North America segment. The results from the Company's Russian business acquired in the fourth quarter of 2017 are reported in its International segment. There were no inter-segment sales.

The Company’s segment results are as follows as of and for the years ended December 31 (in thousands):



	2017		2016		2015
Revenues, net:
North America	$	1,428,711	$	1,279,102	$	1,231,957
International	820,827		552,444		470,908
	$	2,249,538	$	1,831,546	$	1,702,865
Operating income:
North America	$	541,598	$	506,414	$	442,052
International	342,162		247,739		225,482
	$	883,760	$	754,153	$	667,534
Depreciation and amortization:
North America	$	139,418	$	129,653	$	127,863
International	125,142		73,603		65,590
	$	264,560	$	203,256	$	193,453
Capital expenditures:
North America	$	40,747	$	39,000	$	19,883
International	29,346		20,011		21,992
	$	70,093	$	59,011	$	41,875
Long-lived assets (excluding goodwill):
North America	$	1,888,599	$	1,664,224	$	1,719,639
International	1,131,610		1,203,465		602,941
	$	3,020,209	$	2,867,689	$	2,322,580

The Company attributes revenues, net from external customers to individual countries based upon the country in which the related services were rendered. The table below presents certain financial information related to the Company’s significant operations as of and for the years ended December 31 (in thousands):



	2017		2016		2015
Revenues, net by location:
United States (country of domicile)	$	1,400,801	$	1,278,828	$	1,231,641
Brazil	394,550		167,769		85,124
United Kingdom	236,550		229,125		248,598

The table below presents the Company's revenues, net from its primary product categories as of and for the years ended December 31 (in thousands).



	Year Ended December 31,
	2017		2016		2015
Revenue by Product Category	Revenues, net		Revenues, net		Revenues, net
Fuel¹	$	1,096,153	$	997,398	$	1,115,570
Corporate payments	261,822		179,557		162,283
Tolls	326,977		102,740		9,337
Lodging	126,657		100,664		91,751
Gift	194,099		184,743		170,095
Other	243,830		266,444		153,829
Consolidated revenues, net	$	2,249,538	$	1,831,546	$	1,702,865



¹Amounts shown for 2016 and 2015 from previously disclosed amounts conform to the current year's presentation.

The table below presents the Company's long-lived assets (excluding goodwill) at December 31 (in thousands).



	2017		2016
Long-lived assets (excluding goodwill):
United States (country of domicile)	$	1,808,043	$	1,664,224
Brazil	688,809		784,816
United Kingdom	294,039		286,928

No single customer represented more than 10% of the Company’s consolidated revenue in 2017, 2016 and 2015.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)



Fiscal Quarters Year Ended December 31, 2017	First		Second		Third		Fourth
Revenues, net	$	520,433	$	541,237	$	577,877	$	609,991
Operating income	195,068		216,043		232,637		240,012
Net income	123,693		130,987		202,823		282,697
Basic earnings per share	$	1.34	$	1.42	$	2.23	$	3.15
Diluted earnings per share	1.31		1.39		2.18		3.05
Weighted average shares outstanding:
Basic shares	92,108		92,013		90,751		89,676
Diluted shares	94,560		94,223		93,001		92,623



Fiscal Quarters Year Ended December 31, 2016*	First		Second		Third		Fourth
Revenues, net	$	414,262	$	417,905	$	484,426	$	514,953
Operating income	175,955		171,168		191,055		215,975
Net income	111,090		116,253		129,618		95,424
Earnings per share:
Basic earnings per share	$	1.20	$	1.25	$	1.40	$	1.03
Diluted earnings per share	1.17		1.22		1.36		1.00
Weighted average shares outstanding:
Basic shares	92,516		92,665		92,631		92,574
Diluted shares	95,030		95,279		95,307		95,235

*2016 quarterly amounts reflect the impact of the Company's adoption of Accounting Standards Update 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payments Accounting, to simplify several aspects of the accounting for share-based compensation, including the income tax consequences.

The sum of the quarterly earnings per common share amounts for 2017 and 2016 may not equal the earnings per common share for the 2017 and 2016 due to rounding.

The fourth quarter of 2017 includes the provisional net tax benefit of $128.2 million as a result of the Tax Act and $11 million of incremental legal fees.

The fourth quarter of 2016 includes a $36.1 million impairment charge related to the Company’s minority investment in Masternaut, partially offset by a $31.8 million decrease in non-cash stock based compensation expense.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Revenue Recognition and Presentation

The Company presents taxes assessed by the government imposed concurrent with a revenue producing transaction between us and our customers (e.g. VAT) on a net basis within revenues, net.

Use of Estimates

Principles of Consolidation

Credit Risk and Reserve for Losses on Receivables

Business Combinations

Impairment of Long-Lived Assets, Goodwill, Intangibles and Equity Method Investment

Impairment of Long-Lived Assets, Goodwill, Intangibles and Investments

Property, Plant and Equipment and Definite-Lived Intangible Assets

Income Taxes

Cash Equivalents

Cash equivalents consist of cash on hand and highly liquid investments with original maturities of three months or less. Restricted cash represents customer deposits repayable on demand.

Foreign Currency Translation

Derivatives

Stock-Based Compensation

Deferred Financing Costs/Debt Discounts

Costs incurred to obtain financing, net of accumulated amortization, are amortized over the term of the related debt, using the effective interest method and are included within interest expense.

Comprehensive Income (Loss)

Accounts Receivable

On November 14, 2017, the Company extended the term of its asset Securitization Facility to November 14, 2020. The Company capitalized $1.7 million in fees in connection with this extension.

The Company’s accounts receivable and securitized accounts receivable include the following at December 31 (in thousands):



	2017			2016
Gross domestic accounts receivables	$	661,677		$	529,885
Gross domestic securitized accounts receivable	811,000			591,000
Gross foreign receivables	804,365			704,630
Total gross receivables	2,277,042			1,825,515
Less allowance for doubtful accounts	(46,031		)	(32,506		)
Net accounts and securitized accounts receivable	$	2,231,011		$	1,793,009

A rollforward of the Company’s allowance for doubtful accounts related to accounts receivable for the years ended December 31 is as follows (in thousands):



	2017			2016			2015
Allowance for doubtful accounts beginning of year	$	32,506		$	21,903		$	23,842
Provision for bad debts	44,857			35,885			24,629
Write-offs	(31,332		)	(25,282		)	(26,568		)
Allowance for doubtful accounts end of year	$	46,031		$	32,506		$	21,903

Advertising

The Company expenses advertising costs as incurred.

Earnings Per Share

Pending Adoption of Recently Issued Accounting Standards

Tax Act

Revenue Recognition

Accounting for Leases

Accounting for Breakage

Cash Flow Classification

Intangibles - Goodwill and Other Impairment

Definition of a Business

Accounting for Modifications to Stock-Based Compensation

Accounting for Derivative Financial Instruments

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Company's Accounts Receivable and Securitized Accounts Receivable

The Company’s accounts receivable and securitized accounts receivable include the following at December 31 (in thousands):



	2017			2016
Gross domestic accounts receivables	$	661,677		$	529,885
Gross domestic securitized accounts receivable	811,000			591,000
Gross foreign receivables	804,365			704,630
Total gross receivables	2,277,042			1,825,515
Less allowance for doubtful accounts	(46,031		)	(32,506		)
Net accounts and securitized accounts receivable	$	2,231,011		$	1,793,009

Allowance for Doubtful Accounts Related to Accounts Receivable

A rollforward of the Company’s allowance for doubtful accounts related to accounts receivable for the years ended December 31 is as follows (in thousands):



	2017			2016			2015
Allowance for doubtful accounts beginning of year	$	32,506		$	21,903		$	23,842
Provision for bad debts	44,857			35,885			24,629
Write-offs	(31,332		)	(25,282		)	(26,568		)
Allowance for doubtful accounts end of year	$	46,031		$	32,506		$	21,903

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value

The following table presents the Company’s financial assets and liabilities which are measured at fair values on a recurring basis as of December 31, 2017 and 2016, (in thousands):



	Fair Value		Level 1		Level 2		Level 3
December 31, 2017
Assets:
Repurchase agreements	$	420,838	$	—	$	420,838	$	—
Money market	50,423		—		50,423		—
Certificates of deposit	7,417		—		7,417		—
Foreign exchange contracts	39,045		10		39,035		—
Total cash equivalents	$	517,723	$	10	$	517,713	$	—
Cash collateral for foreign exchange contracts	$	12,540	$	—	$	—	$	—
Liabilities:
Foreign exchange contracts	$	26,888	$	67	$	26,821	$	—
Total liabilities	$	26,888	$	67	$	26,821	$	—
Cash collateral obligation for foreign exchange contracts	$	10,882	$	—	$	—	$	—

December 31, 2016
Assets:
Repurchase agreements	$	232,131	$	—	$	232,131	$	—
Money market	50,179		—		50,179		—
Certificates of deposit	48		—		48		—
Total cash equivalents	$	282,358	$	—	$	282,358	$	—

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Expense Related to Share-Based Payments



	2017		2016		2015
Stock options	$	56,400	$	35,234	$	44,260
Restricted stock	36,897		28,712		45,862
Stock-based compensation	$	93,297	$	63,946	$	90,122

Summary of Total Unrecognized Compensation Cost Related to Stock-Based Compensation

The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation as of December 31, 2017 (cost in thousands):

Summary of Changes in Number of Shares of Common Stock Under Option

The following summarizes the changes in the number of shares of common stock under option for the following periods (shares and aggregate intrinsic value in thousands):



	Shares		Weighted Average Exercise Price		Options Exercisable at End of Year	Weighted Average Exercise Price of Exercisable Options		Weighted Average Fair Value of Options Granted During the Year		Aggregate Intrinsic Value
Outstanding at December 31, 2014	5,131		$	58.71	2,370	$	21.75			$	461,770
Granted	654		154.56					$	35.32
Exercised	(586	)	33.97							63,863
Forfeited	(196	)	95.16
Outstanding at December 31, 2015	5,003		72.72		2,545	26.82				351,277
Granted	1,780		133.33					$	28.61
Exercised	(500	)	42.36							49,592
Forfeited	(137	)	140.67
Outstanding at December 31, 2016	6,146		91.20		3,429	55.00				309,238
Granted	2,885		145.35					$	32.57
Exercised	(633	)	71.43							76,546
Forfeited	(367	)	144.51
Outstanding at December 31, 2017	8,031		$	109.78	4,029	$	75.80			$	663,815
Expected to vest at December 31, 2017	8,031		$	109.78

Schedule of Stock Options Exercise Price

The following table summarizes information about stock options outstanding at December 31, 2017 (shares in thousands):



Exercise Price	Options Outstanding	Weighted Average Remaining Vesting Life in Years	Options Exercisable
$10.00 – 58.02	2,218	0.00	2,218
74.99 – 111.09	104	0.03	90
114.90 – 138.47	2,029	0.77	577
140.23-150.74	2,593	1.60	906
151.16-158.24	618	1.48	195
165.96-174.35	469	3.08	43
	8,031		4,029

Schedule of Weighted-Average Assumptions



	2017		2016		2015
Risk-free interest rate	1.65	%	1.08	%	1.47	%
Dividend yield	—		—		—
Expected volatility	28.00	%	27.29	%	27.77	%
Expected life (in years)	3.4		3.5		4.5

Summary of Changes in Number of Shares of Restricted Stock and Restricted Stock Units

The following table summarizes the changes in the number of shares of restricted stock and restricted stock units for the following periods (shares in thousands):



	Shares		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2014	716		$	121.38
Granted	126		151.33
Cancelled	(52	)	135.92
Issued	(293	)	85.40
Outstanding at December 31, 2015	497		149.40
Granted	152		128.90
Cancelled	(41	)	145.25
Issued	(229	)	151.72
Outstanding at December 31, 2016	379		140.39
Granted	238		141.99
Cancelled	(48	)	152.95
Issued	(204	)	136.85
Outstanding at December 31, 2017	365		$	155.58

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Summary of Acquisition Accounting

The following table summarizes the preliminary acquisition accounting for the acquisitions (in thousands):



Trade and other receivables	$	37,986
Prepaid expenses and other	1,426
Property and equipment	5,745
Goodwill	55,711
Other intangible assets	53,259
Liabilities assumed	(32,202		)
Deferred tax liabilities	(17,217		)
Aggregate purchase prices	$	104,708

The following table summarizes the acquisition accounting for STP (in thousands):



Trade and other receivables	$	243,157
Prepaid expenses and other	5,757
Deferred tax assets	20,644
Property and equipment	44,226
Other long term assets	14,280
Goodwill	663,040
Customer relationships and other identifiable intangible assets	548,682
Liabilities assumed	(312,297		)
Aggregate purchase price	$	1,227,489

The following table summarizes the acquisition accounting for the acquisitions completed during 2015 (in thousands):



Trade and other receivables	$	521
Prepaid expenses and other	996
Property and equipment	197
Goodwill	9,561
Other intangible assets	39,791
Deferred tax liabilities	(2,437		)
Liabilities assumed	(2,331		)
Aggregate purchase prices	$	46,298

The following table summarizes the preliminary acquisition accounting for Cambridge (in thousands):



Restricted cash	$	37,666
Trade and other receivables	61,801
Prepaid expenses and other current assets	15,190
Property and equipment	7,106
Other long term assets	10,025
Goodwill	500,391
Customer relationships and other identifiable intangible assets	271,793
Liabilities assumed	(194,552		)
Deferred tax liabilities	(93,364		)
Aggregate purchase price	$	616,056

The following table summarizes the acquisition accounting for these acquisitions (in thousands):



Trade and other receivables	$	27,810
Prepaid expenses and other	5,097
Property and equipment	992
Goodwill	28,540
Other intangible assets	61,823
Deferred tax asset	146
Deferred tax liabilities	(5,123		)
Liabilities assumed	(42,550		)
Aggregate purchase prices	$	76,735

Summary of Final Estimated Fair Value of Intangible Assets Acquired and the Related Estimated Useful Lives

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Trade name and trademarks	1	$	180
Technology	4	1,750
Customer relationships	8	51,329
		$	53,259

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Banking relationships	20	$	705
Trade name and trademarks	Indefinite	35,110
Technology	5	16,039
Customer relationships - excluding Accounts Payable Solutions	7-18	178,190
Customer relationships - Accounts Payable Solutions	20	41,749
		$	271,793

The final estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Customer relationships and other identifiable intangible assets	10-18	$	61,823
		$	61,823

The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):



	Useful Lives (in Years)	Value
Customer relationships	8.5-20	$	348,414
Trade names and trademarks	Indefinite	154,851
Technology	6	45,417
		$	548,682

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill by Reportable Business Segment

A summary of changes in the Company’s goodwill by reportable business segment is as follows (in thousands):



	December 31, 2016		Acquisitions		Dispositions			Acquisition Accounting Adjustments		Foreign Currency		December 31, 2017
Segment
North America	$	2,640,409	$	534,777	$	(92,046	)	$	—	$	983	$	3,084,123
International	1,554,741		21,325		—			3,752		51,882		1,631,700
	$	4,195,150	$	556,102	$	(92,046	)	$	3,752	$	52,865	$	4,715,823



	December 31, 2015		Acquisitions		Acquisition Accounting Adjustments			Foreign Currency			December 31, 2016
Segment
North America	$	2,640,409	$	—	$	—		$	—		$	2,640,409
International	905,625		687,828		(521		)	(38,191		)	1,554,741
	$	3,546,034	$	687,828	$	(521	)	$	(38,191	)	$	4,195,150

Schedule of Other Intangible Assets

Other intangible assets consisted of the following at December 31 (in thousands):



		2017							2016
	Weighted- Avg Useful Life (Years)	Gross Carrying Amounts		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amounts		Accumulated Amortization			Net Carrying Amount
Customer and vendor agreements	17.0	$	2,698,428	$	(605,347	)	$	2,093,081	$	2,449,389	$	(458,118	)	$	1,991,271
Trade names and trademarks—indefinite lived	N/A	499,587		—			499,587		510,952		—			510,952
Trade names and trademarks—other	13.8	2,986		(2,207		)	779		2,746		(2,021		)	725
Software	6.0	219,019		(116,654		)	102,365		211,331		(85,167		)	126,164
Non-compete agreements	4.5	48,221		(19,076		)	29,145		35,191		(11,070		)	24,121
Total other intangibles		$	3,468,241	$	(743,284	)	$	2,724,957	$	3,209,609	$	(556,376	)	$	2,653,233

Schedule of Future Estimated Amortization of Intangibles

The future estimated amortization of intangibles at December 31, 2017 is as follows (in thousands):



2018	$	220,506
2019	206,174
2020	186,259
2021	182,156
2022	171,177
Thereafter	1,259,098

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment, net consisted of the following at December 31 (in thousands):



	Estimated Useful Lives (in Years)	2017			2016
Computer hardware and software	3 to 5	$	244,655		$	197,958
Card-reading equipment	4 to 6	25,462			25,553
Furniture, fixtures, and vehicles	2 to 10	18,846			15,418
Buildings and improvements	5 to 50	21,603			14,432
Property, plant and equipment, gross		310,566			253,361
Less: accumulated depreciation		(130,509		)	(110,857		)
Property, plant and equipment, net		$	180,057		$	142,504

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following at December 31 (in thousands):



	2017		2016
Accrued bonuses	$	15,119	$	15,866
Accrued payroll and severance	18,500		10,704
Accrued taxes	63,698		104,623
Accrued commissions/rebates	47,198		43,467
Other	93,957		64,152
	$	238,472	$	238,812

Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Summary of Debt Instruments

The Company’s debt instruments at December 31 consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands):



	2017		2016
Term notes payable—domestic(a), net of discounts	$	2,993,667	$	2,639,279
Revolving line of credit A Facility—domestic(a)	635,000		465,000
Revolving line of credit B Facility—foreign(a)	28,334		123,412
Revolving line of credit B Facility—swing line(a)	6,879		26,608
Other(c)	43,736		12,934
Total notes payable and other obligations	3,707,616		3,267,233
Securitization Facility(b)	811,000		591,000
Total notes payable, credit agreements and Securitization Facility	$	4,518,616	$	3,858,233
Current portion	$	1,616,512	$	1,336,506
Long-term portion	2,902,104		2,521,727
Total notes payable, credit agreements and Securitization Facility	$	4,518,616	$	3,858,233

_____________________

(a)

(b)


(c)	Other includes the long term portion of contingent consideration and deferred payments associated with certain of our businesses.

Summary of Contractual Maturities of Notes Payable and Other Obligations

The contractual maturities of the Company’s notes payable and other obligations at December 31, 2017 are as follows (in thousands):



2018	$	805,512
2019	173,927
2020	136,197
2021	136,337
2022	2,121,177
Thereafter	334,466

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Before The Provision for Income Taxes

Income before the provision for income taxes is attributable to the following jurisdictions for years ended December 31 (in thousands) :



	2017		2016		2015
United States	$	524,669	$	383,427	$	304,743
Foreign	368,921		259,492		231,261
Total	$	893,590	$	642,919	$	536,004

Components of Income Taxes

The provision for income taxes for the years ended December 31 consists of the following (in thousands):



	2017			2016			2015
Current:
Federal	$	303,514		$	147,406		$	82,926
State	19,234			10,725			8,051
Foreign	78,354			61,084			51,970
Total current	401,102			219,215			142,947
Deferred:
Federal	(255,188		)	(18,723		)	36,723
State	276			1,608			1,525
Foreign	7,200			(11,566		)	(7,622		)
Total deferred	(247,712		)	(28,681		)	30,626
Total provision	$	153,390		$	190,534		$	173,573

Summary of Provision for Income Taxes and U.S. Federal Tax Rate



	2017					2016					2015
Computed “expected” tax expense	$	312,756		35.0	%	$	225,022		35.0	%	$	187,601		35.0	%
Changes resulting from:
Change in valuation allowance	18,289			2.0		11,952			1.9		20,243			3.8
Foreign income tax differential	(38,695		)	(4.3	)	(25,533		)	(4.0	)	(23,718		)	(4.4	)
State taxes net of federal benefits	12,884			1.4		9,439			1.5		6,711			1.2
Foreign-sourced nontaxable income	(8,836		)	(1.0	)	(13,659		)	(1.2	)	(10,573		)	(2.0	)
IRC Section 199 deduction	(8,844		)	(1.0	)	(7,731		)	(1.2	)	(10,221		)	(1.9	)
Excess tax benefits related to stock-based compensation	(18,058		)	(2.0	)	(11,974		)	(1.9	)	—			—
Subpart F income/transition tax - federal only	195,779			21.9		—			—		—			—
Foreign tax credit/transition tax - federal only	(113,955		)	(12.8	)	—			—		—			—
Tax reform - federal rate reduction	(209,966		)	(23.5	)	—			—		—			—
Other	12,036			1.3		3,018			(0.4	)	3,530			0.7
Provision for income taxes	$	153,390		17.2	%	$	190,534		29.7	%	$	173,573		32.4	%

Summary of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31 are as follows (in thousands):



	2017			2016
Deferred tax assets:
Accounts receivable, principally due to the allowance for doubtful accounts	$	6,752		$	7,148
Accrued expenses not currently deductible for tax	442			2,647
Stock based compensation	37,274			41,415
Income tax credits	376			376
Net operating loss carry forwards	41,168			45,969
Investments	37,804			53,379
Accrued escheat	4,768			7,290
Fixed assets, intangibles and other	12,604			15,622
Deferred tax assets before valuation allowance	141,188			173,846
Valuation allowance	(59,349		)	(76,395		)
Deferred tax assets, net	81,839			97,451
Deferred tax liabilities:
Intangibles—including goodwill	(508,958		)	(687,443		)
Basis difference in investment in foreign subsidiaries	(39,287		)	(48,354		)
Prepaid expenses	(1,605		)	(3,644		)
Property and equipment, principally due to differences between book and tax depreciation, and other	(49,100		)	(24,157		)
Deferred tax liabilities	(598,950		)	(763,598		)
Net deferred tax liabilities	$	(517,111	)	$	(666,147	)

Deferred Tax Balance Classification in Balance Sheet

The Company’s deferred tax balances are classified in its balance sheets as of December 31 as follows (in thousands):



	2017			2016
Long term deferred tax assets and liabilities:
Long term deferred tax assets	1,801			2,433
Long term deferred tax liabilities	(518,912		)	(668,580		)
Net long term deferred taxes	(517,111		)	(666,147		)
Net deferred tax liabilities	$	(517,111	)	$	(666,147	)

Summary of Valuation Allowance

The valuation allowance for deferred tax assets changed during 2017 as follows (in thousands):



Balances at December 31, 2014	$	27,082
Additions	35,523
Balance at December 31, 2015	62,605
Additions	13,790
Balance at December 31, 2016	76,395
Additions	5,332
Reduction in valuation allowance due to rate change from Tax Act	(22,378		)
Balance at December 31, 2017	$	59,349

Reconciliation of Unrecognized Tax Benefits



Unrecognized tax benefits at December 31, 2014	$	18,641
Additions based on tax provisions related to the current year	9,079
Additions based on tax provisions related to the prior year	477
Deductions based on settlement/expiration of prior year tax positions	(6,363		)
Unrecognized tax benefits at December 31, 2015	21,834
Additions based on tax provisions related to the current year	3,332
Additions based on tax provisions related to the prior year	2,496
Deductions based on settlement/expiration of prior year tax positions	(1,507		)
Unrecognized tax benefits at December 31, 2016	26,155
Additions based on tax provisions related to the current year	4,143
Additions for tax positions due to acquisitions	9,208
Additions based on tax provisions related to the prior year	1,171
Deductions based on settlement/expiration of prior year tax positions	(9,119		)
Unrecognized tax benefits at December 31, 2017	$	31,558

Leases (Tables)

12 Months Ended

Dec. 31, 2017

Leases [Abstract]

Summary Operating Lease Future Minimum Payments

The minimum lease payments for the noncancelable operating lease agreements are as follows (in thousands):



2018	$	19,343
2019	14,362
2020	12,132
2021	10,661
2022	10,195
Thereafter	25,335

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions



	Net Notional
Foreign exchange contracts:
Swaps	$	515.4
Futures, forwards and spot	3,274.5
Written options	2,934.2
Purchased options	2,314.1
Total	$	9,038.1

Schedule of Derivative Liabilities at Fair Value

The following table summarizes the fair value of derivatives reported in the Consolidated Balance Sheet as of December 31, 2017 (in millions):



	Fair Value, Gross				Fair Value, Net
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Derivatives - undesignated:
Over the counter	$	80.4	$	68.2	$	39.0	$	26.8
Exchange traded	—		0.1		—		0.1
Foreign exchange contracts	80.4		68.3		39.0		26.9
Cash collateral	12.5		10.9		12.5		10.9
Total net derivative assets and liabilities	$	67.9	$	57.4	$	26.5	$	16.0

Schedule of Derivative Assets at Fair Value

The following table summarizes the fair value of derivatives reported in the Consolidated Balance Sheet as of December 31, 2017 (in millions):



	Fair Value, Gross				Fair Value, Net
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Derivatives - undesignated:
Over the counter	$	80.4	$	68.2	$	39.0	$	26.8
Exchange traded	—		0.1		—		0.1
Foreign exchange contracts	80.4		68.3		39.0		26.9
Cash collateral	12.5		10.9		12.5		10.9
Total net derivative assets and liabilities	$	67.9	$	57.4	$	26.5	$	16.0

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Summary of Earnings Per Share, Basic and Diluted

The calculation and reconciliation of basic and diluted earnings per share for the years ended December 31 (in thousands, except per share data) follows:



	2017		2016		2015
Net income	$	740,200	$	452,385	$	362,431
Denominator for basic earnings per share	91,129		92,597		92,023
Dilutive securities	2,465		2,616		2,116
Denominator for diluted earnings per share	93,594		95,213		94,139
Basic earnings per share	$	8.12	$	4.89	$	3.94
Diluted earnings per share	7.91		4.75		3.85

Segments (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Company's Segment Results

The Company’s segment results are as follows as of and for the years ended December 31 (in thousands):



	2017		2016		2015
Revenues, net:
North America	$	1,428,711	$	1,279,102	$	1,231,957
International	820,827		552,444		470,908
	$	2,249,538	$	1,831,546	$	1,702,865
Operating income:
North America	$	541,598	$	506,414	$	442,052
International	342,162		247,739		225,482
	$	883,760	$	754,153	$	667,534
Depreciation and amortization:
North America	$	139,418	$	129,653	$	127,863
International	125,142		73,603		65,590
	$	264,560	$	203,256	$	193,453
Capital expenditures:
North America	$	40,747	$	39,000	$	19,883
International	29,346		20,011		21,992
	$	70,093	$	59,011	$	41,875
Long-lived assets (excluding goodwill):
North America	$	1,888,599	$	1,664,224	$	1,719,639
International	1,131,610		1,203,465		602,941
	$	3,020,209	$	2,867,689	$	2,322,580

Schedule of Revenues and Long-Lived Assets by Geographical Area

The table below presents the Company's long-lived assets (excluding goodwill) at December 31 (in thousands).



	2017		2016
Long-lived assets (excluding goodwill):
United States (country of domicile)	$	1,808,043	$	1,664,224
Brazil	688,809		784,816
United Kingdom	294,039		286,928

The table below presents certain financial information related to the Company’s significant operations as of and for the years ended December 31 (in thousands):



	2017		2016		2015
Revenues, net by location:
United States (country of domicile)	$	1,400,801	$	1,278,828	$	1,231,641
Brazil	394,550		167,769		85,124
United Kingdom	236,550		229,125		248,598

Revenue from External Customers by Products and Services

The table below presents the Company's revenues, net from its primary product categories as of and for the years ended December 31 (in thousands).



	Year Ended December 31,
	2017		2016		2015
Revenue by Product Category	Revenues, net		Revenues, net		Revenues, net
Fuel¹	$	1,096,153	$	997,398	$	1,115,570
Corporate payments	261,822		179,557		162,283
Tolls	326,977		102,740		9,337
Lodging	126,657		100,664		91,751
Gift	194,099		184,743		170,095
Other	243,830		266,444		153,829
Consolidated revenues, net	$	2,249,538	$	1,831,546	$	1,702,865



¹Amounts shown for 2016 and 2015 from previously disclosed amounts conform to the current year's presentation.

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Selected Quarterly Financial Data



Fiscal Quarters Year Ended December 31, 2017	First		Second		Third		Fourth
Revenues, net	$	520,433	$	541,237	$	577,877	$	609,991
Operating income	195,068		216,043		232,637		240,012
Net income	123,693		130,987		202,823		282,697
Basic earnings per share	$	1.34	$	1.42	$	2.23	$	3.15
Diluted earnings per share	1.31		1.39		2.18		3.05
Weighted average shares outstanding:
Basic shares	92,108		92,013		90,751		89,676
Diluted shares	94,560		94,223		93,001		92,623



Fiscal Quarters Year Ended December 31, 2016*	First		Second		Third		Fourth
Revenues, net	$	414,262	$	417,905	$	484,426	$	514,953
Operating income	175,955		171,168		191,055		215,975
Net income	111,090		116,253		129,618		95,424
Earnings per share:
Basic earnings per share	$	1.20	$	1.25	$	1.40	$	1.03
Diluted earnings per share	1.17		1.22		1.36		1.00
Weighted average shares outstanding:
Basic shares	92,516		92,665		92,631		92,574
Diluted shares	95,030		95,279		95,307		95,235

Description of Business (Details)	12 Months Ended
Description of Business (Details)	Dec. 31, 2017 segment product_line country
Concentration Risk [Line Items]
Number of reportable segments \| segment	2
Number of product lines \| product_line	5
Number of countries where products are sold \| country	56
US, Brazil and UK \| Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	90.00%

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) segment	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Nov. 14, 2017 USD ($)	Sep. 30, 2017	Aug. 31, 2017 USD ($)	Nov. 14, 2014 USD ($)
Significant Accounting Policies [Line Items]
Cost of sales for equipment sold		$ 96,800,000	$ 91,600,000	$ 84,100,000
Number of reportable segments \| segment		2
Maximum allocation period (in year)		1 year
Reclassification of foreign currency translation loss to investment, net of tax		$ (31,381,000)	0	0
Capitalized computer software costs		37,400,000	33,100,000	23,400,000
Capitalized computer software amortization expense		$ 21,800,000	17,700,000	11,600,000
Minimum percentage of likelihood required to recognize uncertain income tax position		50.00%
Provisional income tax benefit due to corporate rate reduction		$ 210,000,000
Transition tax		$ 81,800,000
Maturity of cash equivalent, max (in months)		3 months
Foreign exchange gain (loss) recognized		$ (200,000)	(2,800,000)	(2,400,000)
Deferred financing costs	$ 13,100,000	16,300,000	13,100,000
Maximum undivided ownership interest pooled accounts receivable amount sold		950,000,000
Short-term debt outstanding	591,000,000	811,000,000	591,000,000
Advertising expense		26,100,000	22,200,000	19,900,000
Securitization Facility
Significant Accounting Policies [Line Items]
Payments of debt issuance costs								$ 1,700,000
Deferred financing costs							$ 10,600,000
Securitization Facility \| Second Amendment
Significant Accounting Policies [Line Items]
Securitized accounts receivable facility		950,000,000			$ 950,000,000
New Credit Facility
Significant Accounting Policies [Line Items]
Payments of debt issuance costs	2,300,000	$ 12,900,000	$ 2,300,000
Minimum
Significant Accounting Policies [Line Items]
Threshold period during which company ceases billing and accruing late fees		30 days
Minimum \| Stock options
Significant Accounting Policies [Line Items]
Period of vesting provisions (in years)		1 year
Minimum \| Restricted Stock And Restricted Stock Units
Significant Accounting Policies [Line Items]
Period of vesting provisions (in years)		1 year
Maximum
Significant Accounting Policies [Line Items]
Threshold period during which company ceases billing and accruing late fees		40 days
Customer payment terms (in days)		14 days
Term of derivative contract		1 year
Maximum \| Stock options
Significant Accounting Policies [Line Items]
Period of vesting provisions (in years)		5 years
Maximum \| Restricted Stock And Restricted Stock Units
Significant Accounting Policies [Line Items]
Period of vesting provisions (in years)		3 years
Customer Concentration Risk
Significant Accounting Policies [Line Items]
Period past due for accounts receivable deemed as uncollectible		90 days
Period past due for allowance of trade accounts receivable maximum		90 days
Customer Concentration Risk \| Accounts Receivable
Significant Accounting Policies [Line Items]
Concentration risk, percentage		96.00%	95.00%
Masternaut
Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage						44.00%
Non-cash impairment charge on equity method investment	$ 36,100,000	$ 44,600,000	$ 36,100,000	$ 40,000,000
Reclassification of foreign currency translation loss to investment, net of tax		$ (31,400,000)

Summary of Significant Accounting Policies - Schedule of Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues, net	$ 609,991	$ 577,877	$ 541,237	$ 520,433	$ 514,953	$ 484,426	$ 417,905	$ 414,262	$ 2,249,538	$ 1,831,546	$ 1,702,865
Fuel
Segment Reporting Information [Line Items]
Revenues, net									1,096,153	997,398	1,115,570
Corporate payments
Segment Reporting Information [Line Items]
Revenues, net									261,822	179,557	162,283
Tolls
Segment Reporting Information [Line Items]
Revenues, net									326,977	102,740	9,337
Lodging
Segment Reporting Information [Line Items]
Revenues, net									126,657	100,664	91,751
Gift
Segment Reporting Information [Line Items]
Revenues, net									194,099	184,743	170,095
Other
Segment Reporting Information [Line Items]
Revenues, net									$ 243,830	$ 266,444	$ 153,829

Summary of Significant Accounting Policies - Company's Accounts Receivable and Securitized Accounts Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivables	$ 2,277,042	$ 1,825,515
Gross domestic securitized accounts receivable	811,000	591,000
Less allowance for doubtful accounts	(46,031)	(32,506)	$ (21,903)	$ (23,842)
Net accounts and securitized accounts receivable	2,231,011	1,793,009
Accounts Receivable Domestic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivables	661,677	529,885
Accounts Receivable Foreign
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivables	$ 804,365	$ 704,630

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts Related to Accounts Receivable (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts beginning of year	$ 32,506	$ 21,903	$ 23,842
Provision for bad debts	44,857	35,885	24,629
Allowance for Doubtful Accounts Receivable, Write-offs	(31,332)	(25,282)	(26,568)
Allowance for doubtful accounts end of year	$ 46,031	$ 32,506	$ 21,903

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents		$ 282,358
Foreign exchange contracts	$ 39,000
Total cash equivalents	517,723
Cash collateral obligation for foreign exchange contracts	12,500
Liabilities:
Foreign exchange contracts	26,900
Total liabilities	26,888
Cash collateral obligation for foreign exchange contracts	10,900
Repurchase agreements
Assets:
Cash and cash equivalents	420,838	232,131
Money market
Assets:
Cash and cash equivalents	50,423	50,179
Certificates of deposit
Assets:
Cash and cash equivalents	7,417	48
Level 1
Assets:
Total cash equivalents	10
Liabilities:
Total liabilities	67
Level 2
Assets:
Cash and cash equivalents		282,358
Total cash equivalents	517,713
Liabilities:
Total liabilities	26,821
Level 2 \| Repurchase agreements
Assets:
Cash and cash equivalents	420,838	232,131
Level 2 \| Money market
Assets:
Cash and cash equivalents	50,423	50,179
Level 2 \| Certificates of deposit
Assets:
Cash and cash equivalents	7,417	$ 48
Foreign exchange contracts
Assets:
Foreign exchange contracts	39,045
Cash collateral obligation for foreign exchange contracts	12,540
Liabilities:
Foreign exchange contracts	26,888
Cash collateral obligation for foreign exchange contracts	10,882
Foreign exchange contracts \| Level 1
Assets:
Foreign exchange contracts	10
Liabilities:
Foreign exchange contracts	67
Foreign exchange contracts \| Level 2
Assets:
Foreign exchange contracts	39,035
Liabilities:
Foreign exchange contracts	$ 26,821

Stockholders' Equity - Additional Information (Detail)					1 Months Ended	12 Months Ended			17 Months Ended	20 Months Ended
Stockholders' Equity - Additional Information (Detail)	Sep. 07, 2017 shares	Aug. 07, 2017 USD ($) $ / shares shares	Jul. 27, 2017 USD ($)	Feb. 04, 2016 USD ($)	Sep. 07, 2017 $ / shares	Dec. 31, 2017 USD ($) transaction shares	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Jun. 30, 2017 USD ($)	Sep. 30, 2017 USD ($) shares	Nov. 01, 2017 USD ($)	Aug. 03, 2017 USD ($)
Class of Stock [Line Items]
Repurchase of common stock				$ 500,000,000		$ 402,393,000	$ 187,979,000	$ 8,119,000
Repurchase of common stock						$ 402,393,000	$ 187,678,000	$ 0
Shares acquired (in shares) \| shares	263,012	1,491,647				2,854,959				4,114,104
Initial price paid (in usd per share) \| $ / shares		$ 142.46
Final price paid (in usd per share) \| $ / shares					$ 142.48
Number of transactions \| transaction						2
Repurchase agreements
Class of Stock [Line Items]
Repurchase of common stock						$ 402,400,000			$ 590,100,000	$ 590,100,000
Repurchase of common stock		$ 250,000,000
Common Stock
Class of Stock [Line Items]
Stock repurchase program, period in force				18 months
Increase in authorized amount of repurchases			$ 250,000,000								$ 350,000,000
Extension of original period			18 months
Aggregate authorized repurchase amount											$ 1,100,000,000
Remaining authorized repurchase amount			$ 510,000,000
Common Stock \| Repurchase agreements
Class of Stock [Line Items]
Aggregate authorized repurchase amount												$ 250,000,000

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	May 13, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Feb. 07, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to issue grants (in shares)			26,963,150	26,963,150
Shares available for grant (in shares)		277,821
Tax benefits recorded on stock based compensation		$ 48.6	$ 35.0	$ 35.7
Aggregate intrinsic value of options exercisable		$ 469.8
Weighted average remaining contractual term of options exercisable (in years)		5 years
Weighted-average remaining contractual life for options outstanding (in years)		6 years 10 months 28 days
Shares, granted (in shares)		238,000	152,000	126,000
2010 Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in authorized number of shares of common stock (in shares)	6,500,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to issue grants (in shares)		26,963,150
Shares, granted (in shares)		0	0	0
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to issue grants (in shares)		13,250,000
Subsequent Event \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to issue grants (in shares)					16,750,000

Stock Based Compensation - Summary of Expense Related to Share-Based Payments (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 31,800	$ 93,297	$ 63,946	$ 90,122
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		93,297	63,946	90,122
General and Administrative Expense \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		56,400	35,234	44,260
General and Administrative Expense \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		$ 36,897	$ 28,712	$ 45,862

Stock Based Compensation - Summary of Total Unrecognized Compensation Cost Related to Stock-Based Compensation (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 103,271
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 84,452
Weighted Average Period of Expense Recognition (in Years)	1 year 3 months 29 days
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 18,819
Weighted Average Period of Expense Recognition (in Years)	1 year 22 days

Stock Based Compensation - Summary of Changes in Number of Shares of Common Stock Under Option (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Options, Outstanding [Roll Forward]
Shares, outstanding, beginning balance (in shares)	6,146	5,003	5,131
Shares, granted (in shares)	2,885	1,780	654
Shares, exercised (in share)	(633)	(500)	(586)
Shares, forfeited (in shares)	(367)	(137)	(196)
Shares, outstanding, ending balance (in shares)	8,031	6,146	5,003
Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, outstanding, beginning balance (in usd per share)	$ 91.20	$ 72.72	$ 58.71
Weighted average exercise price, granted (in usd per share)	145.35	133.33	154.56
Weighted average exercise price, exercised (in usd per share)	71.43	42.36	33.97
Weighted average exercise price, forfeited (in usd per share)	144.51	140.67	95.16
Weighted average exercise price, outstanding, ending balance (in usd per share)	$ 109.78	$ 91.20	$ 72.72
Options, Additional Disclosures [Abstract]
Shares, expected to vest (in shares)	8,031
Weighted average exercise price of options to vest (in usd per share)	$ 109.78
Options exercisable (in shares)	4,029	3,429	2,545	2,370
Weighted average exercise price of options (in usd per share)	$ 75.80	$ 55.00	$ 26.82	$ 21.75
Weighted average fair value of options granted in period (in usd per share)	$ 32.57	$ 28.61	$ 35.32
Aggregate intrinsic value, options outstanding	$ 663,815	$ 309,238	$ 351,277	$ 461,770
Aggregate intrinsic value of options exercised during period	$ 76,546	$ 49,592	$ 63,863

Stock Based Compensation - Schedule of Stock Options Exercise Price (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2017 $ / shares shares
Class of Stock [Line Items]
Exercise price, options outstanding (in shares)	8,031
Exercise price, options exercisable (in shares)	4,029
$10.00 – 58.02
Class of Stock [Line Items]
Exercise price, minimum (in usd per share) \| $ / shares	$ 10.00
Exercise price, maximum (in usd per share) \| $ / shares	$ 58.02
Exercise price, options outstanding (in shares)	2,218
Exercise price, weighted average remaining vesting life in years	1 day
Exercise price, options exercisable (in shares)	2,218
74.99 – 111.09
Class of Stock [Line Items]
Exercise price, minimum (in usd per share) \| $ / shares	$ 74.99
Exercise price, maximum (in usd per share) \| $ / shares	$ 111.09
Exercise price, options outstanding (in shares)	104
Exercise price, weighted average remaining vesting life in years	11 days
Exercise price, options exercisable (in shares)	90
114.90 – 138.47
Class of Stock [Line Items]
Exercise price, minimum (in usd per share) \| $ / shares	$ 114.9
Exercise price, maximum (in usd per share) \| $ / shares	$ 138.47
Exercise price, options outstanding (in shares)	2,029
Exercise price, weighted average remaining vesting life in years	9 months 7 days
Exercise price, options exercisable (in shares)	577
140.23-150.74
Class of Stock [Line Items]
Exercise price, minimum (in usd per share) \| $ / shares	$ 140.23
Exercise price, maximum (in usd per share) \| $ / shares	$ 150.74
Exercise price, options outstanding (in shares)	2,593
Exercise price, weighted average remaining vesting life in years	1 year 7 months 6 days
Exercise price, options exercisable (in shares)	906
151.16-158.24
Class of Stock [Line Items]
Exercise price, minimum (in usd per share) \| $ / shares	$ 151.16
Exercise price, maximum (in usd per share) \| $ / shares	$ 158.24
Exercise price, options outstanding (in shares)	618
Exercise price, weighted average remaining vesting life in years	1 year 5 months 23 days
Exercise price, options exercisable (in shares)	195
165.96-174.35
Class of Stock [Line Items]
Exercise price, minimum (in usd per share) \| $ / shares	$ 165.96
Exercise price, maximum (in usd per share) \| $ / shares	$ 174.35
Exercise price, options outstanding (in shares)	469
Exercise price, weighted average remaining vesting life in years	3 years 29 days
Exercise price, options exercisable (in shares)	43

Stock Based Compensation - Schedule of Weighted-Average Assumptions (Detail) - Stock options	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.65%	1.08%	1.47%
Dividend yield	0.00%	0.00%	0.00%
Expected volatility	28.00%	27.29%	27.77%
Expected life (in years)	3 years 4 months 24 days	3 years 5 months 19 days	4 years 5 months 16 days

Stock Based Compensation - Summary of Changes in Number of Shares of Restricted Stock and Restricted Stock Units (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock Shares Outstanding [Roll Forward]
Shares, outstanding, beginning balance (in shares)	379	497	716
Shares, granted (in shares)	238	152	126
Shares, cancelled (in shares)	(48)	(41)	(52)
Shares, issued (in shares)	(204)	(229)	(293)
Shares, outstanding, ending balance (in shares)	365	379	497
Restricted Stock Share Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, outstanding, beginning balance (in usd per share)	$ 140.39	$ 149.40	$ 121.38
Weighted average grant date fair value, granted (in usd per share)	141.99	128.90	151.33
Weighted average grant date fair value, cancelled (in usd per share)	152.95	145.25	135.92
Weighted average grant date fair value, issued (in usd per share)	136.85	151.72	85.40
Weighted average grant date fair value, outstanding, ending balance (in usd per share)	$ 155.58	$ 140.39	$ 149.40

Acquisitions - Additional Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Aug. 09, 2017

Aug. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Business Acquisition [Line Items]

Purchase price, net of cash acquired

^[1]

$ 705,257

$ 1,331,985

$ 49,069

Cash acquired

51,300

Deferred payments of previous acquisitions

6,100

Payments for other investing activities

38,953

(1,411)

8,470

Equity method investments

32,859

36,200

Aggregate purchase price

46,300

Issuance of new debt in acquisition

29,341

Shell

Business Acquisition [Line Items]

Cash acquired

11,100

Aggregate purchase price

76,700

Masternaut Group Holdings Limited

Business Acquisition [Line Items]

Equity method investments

7,900

8,400

Return on equity method investment

9,200

2017 Acquisitions

Business Acquisition [Line Items]

Cash acquired

96,200

Aggregate purchase price

720,800

Issuance of new debt in acquisition

29,300

Cambridge

Business Acquisition [Line Items]

Cash acquired

$ 94,500

Aggregate purchase price

616,100

Issuance of new debt in acquisition

23,800

Creative Lodging Solutions

Business Acquisition [Line Items]

Cash acquired

1,800

Aggregate purchase price

104,700

Issuance of new debt in acquisition

5,500

Series of Individually Immaterial Business Acquisitions

Business Acquisition [Line Items]

Intangible assets

61,823

Servicos e Technologia de Pagamentos S.A.

Business Acquisition [Line Items]

Cash acquired

$ 40,200

Aggregate purchase price

1,230,000

Intangible assets

548,682

Liabilities arising from contingencies

15,100

Indemnification assets

$ 15,100

2014 Acquisition

Business Acquisition [Line Items]

Deferred payments of previous acquisitions

$ 3,400

Non-compete agreements | Cambridge

Business Acquisition [Line Items]

Intangible assets

$ 5,800

Non-compete agreements | Creative Lodging Solutions

Business Acquisition [Line Items]

Intangible assets

$ 4,500

Non-compete agreements | Servicos e Technologia de Pagamentos S.A.

Business Acquisition [Line Items]

Intangible assets

$ 23,200

[1]	Amounts reported in acquisitions and investment, net of cash acquired, includes debt assumed and immediately repaid in acquisitions.

Acquisitions - Summary of Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 26, 2017	Aug. 09, 2017	Dec. 31, 2016	Aug. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 4,715,823			$ 4,195,150		$ 3,546,034
Cambridge
Business Acquisition [Line Items]
Restricted cash			$ 37,666
Trade and other receivables			61,801
Prepaid expenses and other			15,190
Property and equipment			7,106
Other long term assets			10,025
Goodwill			500,391
Customer relationships and other identifiable intangible assets			271,793
Liabilities assumed			(194,552)
Deferred tax liabilities			(93,364)
Aggregate purchase price			$ 616,056
Creative Lodging Solutions
Business Acquisition [Line Items]
Trade and other receivables		$ 37,986
Prepaid expenses and other		1,426
Property and equipment		5,745
Other long term assets		53,259
Goodwill		55,711
Liabilities assumed		(32,202)
Deferred tax liabilities		(17,217)
Aggregate purchase price		$ 104,708
Servicos e Technologia de Pagamentos S.A.
Business Acquisition [Line Items]
Trade and other receivables					$ 243,157
Prepaid expenses and other					5,757
Deferred tax assets					20,644
Property and equipment					44,226
Other long term assets					14,280
Goodwill					663,040
Customer relationships and other identifiable intangible assets					548,682
Liabilities assumed					(312,297)
Aggregate purchase price					$ 1,227,489
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Trade and other receivables				27,810
Prepaid expenses and other				5,097
Deferred tax assets				146
Property and equipment				992
Goodwill				28,540
Customer relationships and other identifiable intangible assets				61,823
Liabilities assumed				(42,550)
Deferred tax liabilities				(5,123)
Aggregate purchase price				$ 76,735
2015 Acquisitions
Business Acquisition [Line Items]
Trade and other receivables						521
Prepaid expenses and other						996
Property and equipment						197
Goodwill						9,561
Customer relationships and other identifiable intangible assets						39,791
Liabilities assumed						(2,331)
Deferred tax liabilities						(2,437)
Aggregate purchase price						$ 46,298

Acquisitions - Summary of Final Estimated Fair Value of Intangible Assets Acquired and the Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands				12 Months Ended
	Sep. 26, 2017	Aug. 09, 2017	Aug. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Trade names and trademarks—other
Business Acquisition [Line Items]
Useful lives (in years)				13 years 9 months 18 days
Non-compete agreements
Business Acquisition [Line Items]
Useful lives (in years)				4 years 6 months
Cambridge
Business Acquisition [Line Items]
Customer relationships and other identifiable intangible assets		$ 271,793
Cambridge \| Trade names and trademarks—indefinite lived
Business Acquisition [Line Items]
Trade names and trademarks		$ 35,110
Cambridge \| Banking relationships
Business Acquisition [Line Items]
Useful lives (in years)		20 years
Intangible assets		$ 705
Cambridge \| Customer Relationships
Business Acquisition [Line Items]
Customer relationships and other identifiable intangible assets		$ 178,190
Cambridge \| Customer Relationships \| Minimum
Business Acquisition [Line Items]
Useful lives (in years)		7 years
Cambridge \| Customer Relationships \| Maximum
Business Acquisition [Line Items]
Useful lives (in years)		18 years
Cambridge \| Customer relationships - Accounts Payable Solutions
Business Acquisition [Line Items]
Useful lives (in years)		20 years
Customer relationships and other identifiable intangible assets		$ 41,749
Cambridge \| Non-compete agreements
Business Acquisition [Line Items]
Intangible assets		$ 5,800
Cambridge \| Technology
Business Acquisition [Line Items]
Useful lives (in years)		5 years
Customer relationships and other identifiable intangible assets		$ 16,039
Creative Lodging Solutions \| Trade names and trademarks—other
Business Acquisition [Line Items]
Useful lives (in years)	1 year
Intangible assets	$ 180
Creative Lodging Solutions \| Customer Relationships
Business Acquisition [Line Items]
Useful lives (in years)	8 years
Intangible assets	$ 51,329
Creative Lodging Solutions \| Customer relationships - Accounts Payable Solutions
Business Acquisition [Line Items]
Intangible assets	$ 53,259
Creative Lodging Solutions \| Non-compete agreements
Business Acquisition [Line Items]
Intangible assets				$ 4,500
Creative Lodging Solutions \| Technology
Business Acquisition [Line Items]
Useful lives (in years)	4 years
Intangible assets	$ 1,750
Servicos e Technologia de Pagamentos S.A.
Business Acquisition [Line Items]
Intangible assets			$ 548,682
Customer relationships and other identifiable intangible assets			548,682
Servicos e Technologia de Pagamentos S.A. \| Trade names and trademarks—indefinite lived
Business Acquisition [Line Items]
Trade names and trademarks			154,851
Servicos e Technologia de Pagamentos S.A. \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets			$ 348,414
Servicos e Technologia de Pagamentos S.A. \| Customer Relationships \| Minimum
Business Acquisition [Line Items]
Useful lives (in years)			8 years 6 months
Servicos e Technologia de Pagamentos S.A. \| Customer Relationships \| Maximum
Business Acquisition [Line Items]
Useful lives (in years)			20 years
Servicos e Technologia de Pagamentos S.A. \| Non-compete agreements
Business Acquisition [Line Items]
Intangible assets					$ 23,200
Servicos e Technologia de Pagamentos S.A. \| Technology
Business Acquisition [Line Items]
Useful lives (in years)			6 years
Intangible assets			$ 45,417
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Intangible assets					61,823
Customer relationships and other identifiable intangible assets					61,823
Series of Individually Immaterial Business Acquisitions \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets					$ 61,823
Series of Individually Immaterial Business Acquisitions \| Customer Relationships \| Minimum
Business Acquisition [Line Items]
Useful lives (in years)					10 years
Series of Individually Immaterial Business Acquisitions \| Customer Relationships \| Maximum
Business Acquisition [Line Items]
Useful lives (in years)					18 years
2015 Acquisitions
Business Acquisition [Line Items]
Intangible assets						$ 39,791
Customer relationships and other identifiable intangible assets						39,791
2015 Acquisitions \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets						$ 39,791
2015 Acquisitions \| Customer Relationships \| Minimum
Business Acquisition [Line Items]
Useful lives (in years)						14 years
2015 Acquisitions \| Customer Relationships \| Maximum
Business Acquisition [Line Items]
Useful lives (in years)						20 years

Goodwill and Other Intangible Assets - Summary of Changes in Goodwill by Reportable Business Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Beginning Balance of Goodwill	$ 4,195,150	$ 3,546,034
Acquisitions	556,102	687,828
Dispositions	(92,046)
Acquisition Accounting Adjustments	3,752	(521)
Foreign Currency	52,865	(38,191)
Ending Balance of Goodwill	4,715,823	4,195,150
North America
Goodwill [Roll Forward]
Beginning Balance of Goodwill	2,640,409	2,640,409
Acquisitions	534,777	0
Dispositions	(92,046)
Acquisition Accounting Adjustments	0	0
Foreign Currency	983	0
Ending Balance of Goodwill	3,084,123	2,640,409
International
Goodwill [Roll Forward]
Beginning Balance of Goodwill	1,554,741	905,625
Acquisitions	21,325	687,828
Dispositions	0
Acquisition Accounting Adjustments	3,752	(521)
Foreign Currency	51,882	(38,191)
Ending Balance of Goodwill	$ 1,631,700	$ 1,554,741

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jul. 27, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill deductible for income tax purposes	$ 988,000	$ 362,600
Impact of foreign exchange rates on intangible assets	24,200
Amortization expense of intangible assets	$ 211,849	$ 161,635	$ 159,740
NexTraq \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Finite-Lived Intangible Assets [Line Items]
Disposal group, intangible assets				$ 41,800

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amounts	$ 3,468,241	$ 3,209,609
Accumulated Amortization	(743,284)	(556,376)
Net Carrying Amount	2,724,957	2,653,233
Trade names and trademarks—indefinite lived
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amounts	499,587	510,952
Net Carrying Amount	$ 499,587	510,952
Customer and vendor agreements
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted- Avg Useful Life (Years)	17 years
Gross Carrying Amounts	$ 2,698,428	2,449,389
Accumulated Amortization	(605,347)	(458,118)
Net Carrying Amount	$ 2,093,081	1,991,271
Trade names and trademarks—other
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted- Avg Useful Life (Years)	13 years 9 months 18 days
Gross Carrying Amounts	$ 2,986	2,746
Accumulated Amortization	(2,207)	(2,021)
Net Carrying Amount	$ 779	725
Software
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted- Avg Useful Life (Years)	6 years
Gross Carrying Amounts	$ 219,019	211,331
Accumulated Amortization	(116,654)	(85,167)
Net Carrying Amount	$ 102,365	126,164
Non-compete agreements
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted- Avg Useful Life (Years)	4 years 6 months
Gross Carrying Amounts	$ 48,221	35,191
Accumulated Amortization	(19,076)	(11,070)
Net Carrying Amount	$ 29,145	$ 24,121

Goodwill and Other Intangible Assets - Schedule of Future Estimated Amortization of Intangibles (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2018	$ 220,506
2019	206,174
2020	186,259
2021	182,156
2022	171,177
Thereafter	$ 1,259,098

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Computer hardware and software	$ 244,655	$ 197,958
Card reading equipment	25,462	25,553
Furniture fixtures and Vehicles	18,846	15,418
Buildings and improvements	21,603	14,432
Property, plant and equipment, gross	310,566	253,361
Less: accumulated depreciation	(130,509)	(110,857)
Property, plant and equipment, net	$ 180,057	$ 142,504
Minimum \| Computer hardware and software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	3 years
Minimum \| Card-reading equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	4 years
Minimum \| Furniture, fixtures, and vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	2 years
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	5 years
Maximum \| Computer hardware and software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	5 years
Maximum \| Card-reading equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	6 years
Maximum \| Furniture, fixtures, and vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	10 years
Maximum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (in Years)	50 years

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property Plant and Equipment Useful Life and Values [Abstract]
Depreciation	$ 46,599	$ 36,456	$ 30,462
Capitalized computer software amortization expense	21,800	17,700	$ 11,600
Unamortized computer software costs	$ 75,800	$ 60,200

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued bonuses	$ 15,119	$ 15,866
Accrued payroll and severance	18,500	10,704
Accrued taxes	63,698	104,623
Accrued commissions/rebates	47,198	43,467
Other	93,957	64,152
Total	$ 238,472	$ 238,812

Debt - Summary of Debt Instruments (Detail) - USD ($)		1 Months Ended	12 Months Ended
Debt - Summary of Debt Instruments (Detail) - USD ($)	Oct. 24, 2014	Aug. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Nov. 14, 2017	Aug. 02, 2017	Jan. 20, 2017
Debt Instrument [Line Items]
Term notes payable-domestic, net of discounts			$ 2,993,667,000	$ 2,639,279,000
Other debt			43,736,000	12,934,000
Total notes payable and other obligations			3,707,616,000	3,267,233,000
Securitization facility			811,000,000	591,000,000
Total notes payable, credit agreements and Securitization Facility			4,518,616,000	3,858,233,000
Current portion			1,616,512,000	1,336,506,000
Long-term portion			$ 2,902,104,000	2,521,727,000
Line of credit facility, unused capacity, commitment fee percentage			0.35%
Capitalized debt issuance costs			$ 16,300,000	$ 13,100,000
Securitization Facility
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.40%	0.40%
Description of variable rate basis			one month LIBOR
Amortization of debt issuance costs		$ 3,300,000
Capitalized debt issuance costs		$ 10,600,000
Secured Debt
Debt Instrument [Line Items]
Line of credit facility additional available borrowing capacity	$ 750,000,000
Secured Debt \| Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.20%
Secured Debt \| Minimum \| Federal Funds Rate Plus
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Secured Debt \| Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.40%
Secured Debt \| Maximum \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Capitalized debt issuance costs			$ 5,100,000
Revolving Credit Facility \| Secured Debt
Debt Instrument [Line Items]
Securitized accounts receivable facility			1,285,000,000
Term Loan A
Debt Instrument [Line Items]
Revolving line of credit			$ 2,700,000,000
Line of credit facility additional available borrowing capacity						$ 708,700,000
Debt instrument, maturity date			Aug. 02, 2022
Unamortized discount			$ 6,000,000
Term Loan A \| Secured Debt
Debt Instrument [Line Items]
Securitized accounts receivable facility			$ 2,690,000,000
Term Loan A \| Domestic Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, interest rate during period			3.32%
Term Loan B
Debt Instrument [Line Items]
Revolving line of credit			$ 349,100,000
Line of credit facility, interest rate during period			3.57%
Debt instrument, maturity date			Aug. 02, 2024
Unamortized discount			$ 700,000
Term Loan B \| Secured Debt
Debt Instrument [Line Items]
Securitized accounts receivable facility			$ 350,000,000
Term Loan B \| Secured Debt \| Eurodollar
Debt Instrument [Line Items]
Interest rate, stated percentage							2.00%
Term Loan B \| Secured Debt \| Base Rate
Debt Instrument [Line Items]
Interest rate, stated percentage							1.00%
Term Loan B \| Swing Line
Debt Instrument [Line Items]
Line of credit facility, interest rate during period			2.22%
Revolving A Credit Facility \| Secured Debt
Debt Instrument [Line Items]
Securitized accounts receivable facility			$ 800,000,000
Revolving B Credit Facility \| Secured Debt
Debt Instrument [Line Items]
Securitized accounts receivable facility			450,000,000
Revolving C Credit Facility \| Secured Debt
Debt Instrument [Line Items]
Securitized accounts receivable facility			35,000,000
Swing Line
Debt Instrument [Line Items]
Revolving line of credit			6,879,000	$ 26,608,000
Domestic Line of Credit
Debt Instrument [Line Items]
Revolving line of credit			635,000,000	465,000,000
Foreign Revolving Line of Credit Facility A
Debt Instrument [Line Items]
Revolving line of credit			$ 28,334,000	$ 123,412,000
Line of credit facility, interest rate during period			2.25%
Foreign Swing Line
Debt Instrument [Line Items]
Interest rate, effective percentage			2.69%	2.57%
Term Loan
Debt Instrument [Line Items]
Annual principal payment			$ 423,200,000
Second Amendment \| Securitization Facility
Debt Instrument [Line Items]
Securitized accounts receivable facility			$ 950,000,000		$ 950,000,000
Commercial Paper \| Securitization Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.80%
Commercial Paper \| Securitization Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.90%
Commercial Paper \| Securitization Facility \| Blended Rate Of LIBOR And Commercial Paper Rates Based On Weighted Average Advance
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.86%	0.90%
Line of credit facility, commitment fee percentage			1.5548%	0.8484%
Period One \| Revolving Credit Facility
Debt Instrument [Line Items]
Payment period			1 month
Period One \| Foreign Swing Line
Debt Instrument [Line Items]
Payment period			10 days
Period Two \| Revolving Credit Facility
Debt Instrument [Line Items]
Payment period			2 months
Period Three \| Revolving Credit Facility
Debt Instrument [Line Items]
Payment period			3 months
Period Four \| Revolving Credit Facility
Debt Instrument [Line Items]
Payment period			9 months

Debt - Summary of Contractual Maturities of Notes Payable and Other Obligations (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Debt Disclosure [Abstract]
2018	$ 805,512
2019	173,927
2020	136,197
2021	136,337
2022	2,121,177
Thereafter	$ 334,466

Income Taxes - Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
United States	$ 524,669	$ 383,427	$ 304,743
Foreign	368,921	259,492	231,261
Income before income taxes	$ 893,590	$ 642,919	$ 536,004

Income Taxes - Components of Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Current income taxes, Federal	$ 303,514	$ 147,406	$ 82,926
Current income taxes, State	19,234	10,725	8,051
Current income taxes, Foreign	78,354	61,084	51,970
Total current	401,102	219,215	142,947
Deferred income taxes, Federal	(255,188)	(18,723)	36,723
Deferred income taxes, State	276	1,608	1,525
Deferred income taxes, Foreign	7,200	(11,566)	(7,622)
Total deferred	(247,712)	(28,681)	30,626
Total provision	$ 153,390	$ 190,534	$ 173,573

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Provisional income tax expense (benefit)	$ (128,200)
Provisional income tax benefit due to corporate rate reduction	210,000
Transition tax	81,800
Change in tax rate effect on deferred tax asset	$ 210,000
Income tax expense at federal statutory rate, rate	35.00%	35.00%	35.00%
Valuation allowance	$ 59,349	$ 76,395
Increase (decrease) in the total valuation allowance	(17,000)	13,800
Net operating loss carryforwards for state income tax purposes	590,000
Federal operating loss carry forwards	44,000
Accrued interest and penalties related to the unrecognized tax benefits	1,300	5,900
Total unrecognized tax benefits	31,558	$ 26,155	$ 21,834	$ 18,641
Unrecognized tax benefits that would affect effective tax rate	$ 31,600

Income Taxes - Summary of Provision for Income Taxes and U.S. Federal Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Computed “expected” tax expense	$ 312,756	$ 225,022	$ 187,601
Change in valuation allowance	18,289	11,952	20,243
Foreign income tax differential	(38,695)	(25,533)	(23,718)
State taxes net of federal benefits	12,884	9,439	6,711
Foreign-sourced nontaxable income	(8,836)	(13,659)	(10,573)
IRC Section 199 deduction	(8,844)	(7,731)	(10,221)
Excess tax benefits related to stock-based compensation	(18,058)	(11,974)	0
Subpart F income/transition tax - federal only	195,779	0	0
Foreign tax credit/transition tax - federal only	(113,955)	0	0
Tax reform - federal rate reduction	(209,966)	0	0
Other	12,036	3,018	3,530
Total provision	$ 153,390	$ 190,534	$ 173,573
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent [Abstract]
Computed "expected" tax expense, rate	35.00%	35.00%	35.00%
Change in valuation allowance, rate	2.00%	1.90%	3.80%
Foreign income tax differential, rate	(4.30%)	(4.00%)	(4.40%)
State taxes net of federal benefits, rate	1.40%	1.50%	1.20%
Foreign-sourced nontaxable income, rate	(1.00%)	(1.20%)	(2.00%)
IRC Section 199 deduction, rate	(1.00%)	(1.20%)	(1.90%)
Excess tax benefits related to stock-based compensation, rate	(2.00%)	(1.90%)	0.00%
Subpart F income/transition tax - federal only, rate	21.90%	0.00%	0.00%
Foreign tax credit/transition tax - federal only, rate	(12.80%)	(0.00%)	(0.00%)
Tax reform - federal rate reduction, rate	(23.50%)	0.00%	0.00%
Other, rate	1.30%	(0.40%)	0.70%
Provision for income taxes, rate	17.20%	29.70%	32.40%

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Accounts receivable, principally due to the allowance for doubtful accounts	$ 6,752	$ 7,148
Accrued expenses not currently deductible for tax	442	2,647
Stock based compensation	37,274	41,415
Income tax credits	376	376
Net operating loss carry forwards	41,168	45,969
Investments	37,804	53,379
Accrued escheat	4,768	7,290
Fixed assets, intangibles and other	12,604	15,622
Deferred tax assets before valuation allowance	141,188	173,846
Valuation allowance	(59,349)	(76,395)
Deferred tax assets, net	81,839	97,451
Deferred tax liabilities:
Intangibles—including goodwill	(508,958)	(687,443)
Basis difference in investment in foreign subsidiaries	(39,287)	(48,354)
Prepaid expenses	(1,605)	(3,644)
Property and equipment, principally due to differences between book and tax depreciation, and other	(49,100)	(24,157)
Deferred tax liabilities	(598,950)	(763,598)
Net deferred tax liabilities	$ (517,111)	$ (666,147)

Income Taxes - Deferred Tax Balance Classification in Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Long term deferred tax assets	$ 1,801	$ 2,433
Long term deferred tax liabilities	(518,912)	(668,580)
Net long term deferred taxes	(517,111)	(666,147)
Net deferred tax liabilities	$ (517,111)	$ (666,147)

Income Taxes - Deferred Tax Valuation Allowance (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Valuation Allowance [Line Items]
Beginning balance	$ 76,395	$ 62,605	$ 27,082
Additions	5,332	13,790	35,523
Balance at December 31, 2017 (before impact of Tax Act)	81,727
Reduction in valuation allowance due to rate change from Tax Act	(22,378)
Ending balance	$ 59,349	$ 76,395	$ 62,605

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Unrecognized Income Tax Benefit [Roll Forward]
Beginning balance, unrecognized tax benefits	$ 26,155	$ 21,834	$ 18,641
Additions based on tax provisions related to the current year	4,143	3,332	9,079
Additions for tax positions due to acquisitions	9,208
Additions based on tax provisions related to the prior year	1,171	2,496	477
Deductions based on settlement/expiration of prior year tax positions	(9,119)	(1,507)	(6,363)
Ending balance, unrecognized tax benefits	$ 31,558	$ 26,155	$ 21,834

Leases - Summary Operating Lease Future Minimum Payments (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Leases [Abstract]
2018	$ 19,343
2019	14,362
2020	12,132
2021	10,661
2022	10,195
Thereafter	$ 25,335

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Leased Assets [Line Items]
Rent expense for noncancelable operating leases	$ 18.4	$ 15.1	$ 14.1
Minimum
Operating Leased Assets [Line Items]
Lease renewable period, maximum (in years)	1 year
Maximum
Operating Leased Assets [Line Items]
Lease renewable period, maximum (in years)	5 years

Asset Dispositions - Narrative (Details) - NexTraq - Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Jul. 17, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration		$ 316.5
Gain on disposal	$ 175.0
Tax effect of gain from disposal	$ 65.8

Derivative Financial Instruments - Schedule of Notional Amounts (Details) $ in Millions	Dec. 31, 2017 USD ($)
Derivative [Line Items]
Total	$ 9,038.1
Swaps
Derivative [Line Items]
Total	515.4
Futures, forwards and spot
Derivative [Line Items]
Total	3,274.5
Written options
Derivative [Line Items]
Total	2,934.2
Purchased options
Derivative [Line Items]
Total	$ 2,314.1

Derivative Financial Instruments - Schedule of Fair Value by Balance Sheet Location (Details) $ in Millions	Dec. 31, 2017 USD ($)
Derivative [Line Items]
Derivative Assets, Fair Value Gross	$ 80.4
Cash collateral	12.5
Derivative Assets, Fair Value, Gross, Net of cash collateral	67.9
Derivative Liabilities, Fair Value, Gross	68.3
Cash collateral	10.9
Derivative Liabilities, Fair Value, Gross, Net of cash collateral	57.4
Foreign exchange contracts	39.0
Foreign exchange contracts	26.9
Derivative Assets, net	26.5
Derivative Liabilities, net	16.0
Over the counter
Derivative [Line Items]
Derivative Assets, Fair Value Gross	80.4
Derivative Liabilities, Fair Value, Gross	68.2
Foreign exchange contracts	39.0
Foreign exchange contracts	26.8
Exchange traded
Derivative [Line Items]
Derivative Assets, Fair Value Gross	0.0
Derivative Liabilities, Fair Value, Gross	0.1
Foreign exchange contracts	0.0
Foreign exchange contracts	$ 0.1

Derivative Financial Instruments - Narrative (Details) $ in Millions	Dec. 31, 2017 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets	$ 39.0
Derivative liabilities	$ 26.9

Earnings Per Share - Summary of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 282,697	$ 202,823	$ 130,987	$ 123,693	$ 95,424	$ 129,618	$ 116,253	$ 111,090	$ 740,200	$ 452,385	$ 362,431
Denominator for basic earnings per share (in shares)	89,676	90,751	92,013	92,108	92,574	92,631	92,665	92,516	91,129	92,597	92,023
Dilutive securities (in shares)									2,465	2,616	2,116
Denominator for diluted earnings per share (in shares)	92,623	93,001	94,223	94,560	95,235	95,307	95,279	95,030	93,594	95,213	94,139
Basic earnings per share (in usd per share)	$ 3.15	$ 2.23	$ 1.42	$ 1.34	$ 1.03	$ 1.40	$ 1.25	$ 1.20	$ 8.12	$ 4.89	$ 3.94
Diluted earnings per share (in usd per share)	$ 3.05	$ 2.18	$ 1.39	$ 1.31	$ 1.00	$ 1.36	$ 1.22	$ 1.17	$ 7.91	$ 4.75	$ 3.85

Earnings Per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted earnings per share excludes antidilutive effect (in shares)	100,000	100,000	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted earnings per share excludes antidilutive effect (in shares)	100,000	400,000	1,400,000
Performance Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted earnings per share excludes antidilutive effect (in shares)	300,000	200,000	200,000

Segments - Additional Information (Detail)	12 Months Ended
Segments - Additional Information (Detail)	Dec. 31, 2017 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Schedule of Company's Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues, net	$ 609,991	$ 577,877	$ 541,237	$ 520,433	$ 514,953	$ 484,426	$ 417,905	$ 414,262	$ 2,249,538	$ 1,831,546	$ 1,702,865
Operating income:	240,012	$ 232,637	$ 216,043	$ 195,068	215,975	$ 191,055	$ 171,168	$ 175,955	883,760	754,153	667,534
Depreciation and amortization									264,560	203,256	193,453
Capital expenditures:									70,093	59,011	41,875
Long-lived assets (excluding goodwill):	3,020,209				2,867,689				3,020,209	2,867,689	2,322,580
North America
Segment Reporting Information [Line Items]
Revenues, net									1,428,711	1,279,102	1,231,957
Operating income:									541,598	506,414	442,052
Depreciation and amortization									139,418	129,653	127,863
Capital expenditures:									40,747	39,000	19,883
Long-lived assets (excluding goodwill):	1,888,599				1,664,224				1,888,599	1,664,224	1,719,639
International
Segment Reporting Information [Line Items]
Revenues, net									820,827	552,444	470,908
Operating income:									342,162	247,739	225,482
Depreciation and amortization									125,142	73,603	65,590
Capital expenditures:									29,346	20,011	21,992
Long-lived assets (excluding goodwill):	$ 1,131,610				$ 1,203,465				$ 1,131,610	$ 1,203,465	$ 602,941

Segments - Schedule of Revenues and Long-Lived Assets by Geographical Area (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues, net	$ 609,991	$ 577,877	$ 541,237	$ 520,433	$ 514,953	$ 484,426	$ 417,905	$ 414,262	$ 2,249,538	$ 1,831,546	$ 1,702,865
Long-lived assets (excluding goodwill):	3,020,209				2,867,689				3,020,209	2,867,689	2,322,580
United States (country of domicile)
Segment Reporting Information [Line Items]
Revenues, net									1,400,801	1,278,828	1,231,641
Long-lived assets (excluding goodwill):	1,808,043				1,664,224				1,808,043	1,664,224
Brazil
Segment Reporting Information [Line Items]
Revenues, net									394,550	167,769	85,124
Long-lived assets (excluding goodwill):	688,809				784,816				688,809	784,816
United Kingdom
Segment Reporting Information [Line Items]
Revenues, net									236,550	229,125	$ 248,598
Long-lived assets (excluding goodwill):	$ 294,039				$ 286,928				$ 294,039	$ 286,928

Segments Schedule of Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues, net	$ 609,991	$ 577,877	$ 541,237	$ 520,433	$ 514,953	$ 484,426	$ 417,905	$ 414,262	$ 2,249,538	$ 1,831,546	$ 1,702,865
Fuel
Segment Reporting Information [Line Items]
Revenues, net									1,096,153	997,398	1,115,570
Corporate payments
Segment Reporting Information [Line Items]
Revenues, net									261,822	179,557	162,283
Tolls
Segment Reporting Information [Line Items]
Revenues, net									326,977	102,740	9,337
Lodging
Segment Reporting Information [Line Items]
Revenues, net									126,657	100,664	91,751
Gift
Segment Reporting Information [Line Items]
Revenues, net									194,099	184,743	170,095
Other
Segment Reporting Information [Line Items]
Revenues, net									$ 243,830	$ 266,444	$ 153,829

Selected Quarterly Financial Data (Unaudited) - Schedule of Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenues, net	$ 609,991	$ 577,877	$ 541,237	$ 520,433	$ 514,953	$ 484,426	$ 417,905	$ 414,262	$ 2,249,538	$ 1,831,546	$ 1,702,865
Operating income:	240,012	232,637	216,043	195,068	215,975	191,055	171,168	175,955	883,760	754,153	667,534
Net income	$ 282,697	$ 202,823	$ 130,987	$ 123,693	$ 95,424	$ 129,618	$ 116,253	$ 111,090	$ 740,200	$ 452,385	$ 362,431
Earnings per share:
Basic earnings per share (in usd per share)	$ 3.15	$ 2.23	$ 1.42	$ 1.34	$ 1.03	$ 1.40	$ 1.25	$ 1.20	$ 8.12	$ 4.89	$ 3.94
Diluted earnings per share (in usd per share)	$ 3.05	$ 2.18	$ 1.39	$ 1.31	$ 1.00	$ 1.36	$ 1.22	$ 1.17	$ 7.91	$ 4.75	$ 3.85
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	89,676	90,751	92,013	92,108	92,574	92,631	92,665	92,516	91,129	92,597	92,023
Diluted weighted average shares outstanding (in shares)	92,623	93,001	94,223	94,560	95,235	95,307	95,279	95,030	93,594	95,213	94,139

Selected Quarterly Financial Data (Unaudited) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Selected Quarterly Financial Data [Line Items]
Tax benefit related to change in enacted tax rate	$ 128,200
Legal fees	$ 11,000
Non-cash stock based compensation expense		$ 31,800	$ 93,297	$ 63,946	$ 90,122
Masternaut
Selected Quarterly Financial Data [Line Items]
Non-cash impairment charge on equity method investment		$ 36,100	$ 44,600	$ 36,100	$ 40,000