Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock, $0.02 par value per share, is quoted on the NASDAQ Global Select Market under the symbol EEFT.
Dividends
Since our inception, no dividends have been paid on our common stock. We do not intend to distribute dividends for the foreseeable future.
Holders
At December 31, 2020 , we had 45 stockholders of record of our Common Stock, and none of our Preferred Stock was outstanding. This figure does not include an estimate of the indeterminate number of beneficial holders whose shares may be held of record by brokerage firms and clearing agencies.
Private Placements and Issuances of Equity
During 2020 , we did not issue any equity securities that were not registered under the Securities Act of 1933, which have not been previously reported in a Quarterly Report on Form 10-Q or a Current Report on Form 8-K.
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Stock Performance Graph
Set forth below is a graph comparing the total cumulative return on our Common Stock from December 31, 2015 through December 31, 2020 with the Total Returns Index for U.S. companies traded on the NASDAQ Global Select Market (the "Market Group") and an index group of peer companies, the Total Returns Index for U.S. NASDAQ Financial Stocks (the "Peer Group"). Returns are based on monthly changes in price and assume reinvested dividends. These calculations assume the value of an investment in the Common Stock, the Market Group and the Peer Group was $100 on December 31, 2015.
The following performance graph and related text are being furnished to and not filed with the SEC, and will not be deemed to be "soliciting material" or subject to Regulation 14A or 14C under the Exchange Act or to the liabilities of Section 18 of the Exchange Act and will no t be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent we specifically incorporate such information by reference into such filing.
NOTE: Index Data: Calculated (or Derived) based from CRSP NASDAQ Stock Market (U.S. Companies) and CRSP NASDAQ Financial Index, Center for Research in Security Prices (CRSP®), Graduate School of Business, The University of Chicago. Copyright 2021. Used with permission. All rights reserved.
Equity Compensation Plan Information
Refer to Part II, Item 8, Financial Statements and Supplementary Data , Note 16, Stock Plans, and Part III, Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters for information related to our equity compensation plans.
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Stock Repurchases
The Company did not repurchase any shares during the quarter ended December 31, 2020 .
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Dollar Value of Shares that May Yet Be Purchased Under the Programs (in thousands) (1)
October 1 - October 31, 2020
—
$
—
—
$
259,362
November 1 - November 30, 2020
—
—
—
259,362
December 1 - December 31, 2020
—
—
—
259,362
Total
—
$
—
—
(1) On March 11, 2019, in connection with the issuance of the Convertible Notes, the Board of Directors authorized a repurchase program of $120 million in value of Euronet’s common stock through March 11, 2021. Euronet has repurchased $110.6 million of stock under this program. On February 26, 2020, the Company put a repurchase program in place to repurchase up to $250 million in value, but not more than 5.0 million shares of common stock through February 28, 2022. Repurchases under either program may take place in the open market or in privately negotiated transactions, including derivative transactions, and may be made under a Rule 10b5-1 plan.
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Item 6. Selected Financial Data
The following information should be read in conjunction with Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations and our Consolidated Financial Statements and accompanying notes contained in Item 8 - Financial Statements and Supplementary Data in this report. The historical results are not necessarily indicative of the results to be expected in any future period.
Year Ended December 31,
(dollar amounts in thousands, except per share amounts)
2020
2019
2018
2017
2016
Income statement data:
Revenues
$
2,482,700
$
2,750,109
$
2,536,629
$
2,252,422
$
1,958,615
Operating expenses (1)
2,309,057
2,163,171
2,072,694
1,891,395
1,628,313
Depreciation and amortization
127,021
111,744
106,021
95,030
80,529
Operating income (1)
46,622
475,194
357,914
265,997
249,773
Other expenses, net
(38,451
)
(41,387
)
(62,998
)
(9,662
)
(16,880
)
Income from continuing operations before income taxes
8,171
433,807
294,916
256,335
232,893
Income tax expense
(11,475
)
(87,112
)
(62,785
)
(99,395
)
(58,795
)
(Loss) income from continuing operations
$
(3,304
)
$
346,695
$
232,131
$
156,940
$
174,098
(Loss) earnings per share from continuing operations:
Basic
$
(0.06
)
$
6.49
$
4.52
$
2.99
$
3.34
Diluted
$
(0.06
)
$
6.31
$
4.26
$
2.85
$
3.23
Balance sheet data (at period end):
Assets
$
4,926,711
$
4,657,666
$
3,321,155
$
3,140,029
$
2,712,872
Debt obligations, long-term portion
1,437,589
1,090,939
589,782
404,012
561,663
Finance lease obligations, long-term portion
6,174
8,054
8,199
9,753
6,969
Summary network data
Number of operational ATMs at end of period
37,729
46,070
40,354
37,133
33,973
EFT processing transactions during the period (millions)
3,275
3,052
2,721
2,352
1,885
Number of operational prepaid processing POS terminals at end of period (rounded)
748,000
728,000
719,000
683,000
661,000
Prepaid processing transactions during the period (millions)
2,395
1,542
1,149
1,186
1,294
Money transfer transactions during the period (millions)
116.5
114.5
107.6
92.2
82.3
___________________
(1)
The results of 2020, 2018 and 2017 include non-cash charges related to impairment of goodwill and acquired intangible assets of $106.6 million, $7.0 million and $34.1 million, respectively.
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