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Euronet Worldwide Reports Second Quarter 2021 Financial Results

LEAWOOD, Kan., July 27, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”

Euronet Worldwide Reports Second Quarter 2021 Financial Results

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(“Euronet” or the “Company”","content":"<p>LEAWOOD, Kan., July 27, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports&nbsp;second quarter&nbsp;2021&nbsp;financial results.</p>\n<p><b>Euronet reports the following consolidated results for the&nbsp;second quarter&nbsp;2021&nbsp;compared with the same period of&nbsp;2020:</b></p>\n<ul>\n <li>Revenues of $714.7&nbsp;million, a&nbsp;35%&nbsp;increase from $527.8 million (28% increase on a constant currency1&nbsp;basis).</li>\n <li></li>\n <li>Operating income&nbsp;of&nbsp;$30.1&nbsp;million, compared with an operating loss of&nbsp;$101.3 million.</li>\n <li>Adjusted operating income2 of $30.1 million, an 812% increase from $3.3 million (748% increase on a constant currency basis).</li>\n <li>Adjusted EBITDA3&nbsp;of $74.7&nbsp;million,&nbsp; a&nbsp;104%&nbsp;increase from&nbsp;$36.6 million (92% increase on a constant currency basis).</li>\n <li>Net income attributable to Euronet of $8.6 million&nbsp;or $0.16&nbsp;diluted earnings per share, compared with net loss of $115.8&nbsp;million or $2.18&nbsp;diluted loss per share.</li>\n <li>Adjusted earnings per share4&nbsp;of $0.53, compared with $0.04.</li>\n <li>Euronet's cash and cash equivalents were $994.5 million and ATM cash was $565.1&nbsp;million, totaling $1,560 million as of June 30, 2021, and availability under its revolving credit facilities was approximately $950&nbsp;million.</li>\n</ul>\n<p>See the reconciliation of non-GAAP items in the attached financial schedules.</p>\n<p>\"I am very pleased that the epay&nbsp;and Money Transfer segments each delivered record second quarter earnings, with both segments posting double-digit earnings growth for the fourth consecutive quarter,\"&nbsp;stated Michael J. Brown, Euronet's&nbsp;Chairman and CEO. \"Our industry leading technology, expansive physical networks and continued investment in growing our digital channel presence continue to produce strong growth trends in both segments - including strong double-digit digital transaction growth rates of 74% and 51% year-over-year in Money Transfer and epay, respectively.&nbsp; I am also happy to see improving transaction trends in EFT as more countries have opened their borders and eased quarantine restrictions.\"</p>\n<p>The stronger than expected second quarter revenue growth rate was largely the result of continued strength in year-over-year growth trends in the Money Transfer segment as the Company's physical and digital networks continue to expand.&nbsp; In the EFT Segment, we saw immediate improvement in transactions in the early part of the quarter as borders began to reopen and quarantine restrictions were lifted.&nbsp; However, the pace of these reopening efforts was more irregular than we expected which resulted in fewer higher-value cross-border transactions than we anticipated at the beginning of the quarter resulting in consolidated adjusted EBITDA coming in at the lower end of our expected range.&nbsp; Year-over-year cross-border transaction growth accelerated in mid-June and continued into the beginning of July as certain countries eased quarantine requirements for vaccinated travelers.</p>\n<p>Taking into consideration current trends in the business, the current COVID-19 management mandates, trends in more contagious COVID variants, current vaccination rates and approximately 3,700 more active Euronet-owned ATMs&nbsp;than the prior year for this year's peak travel season, the Company anticipates that its third quarter 2021 adjusted EBITDA will be in the range of approximately $135 million to $145 million.</p>\n<p>In the second quarter of 2020, the Company recorded a $104.6 million non-cash goodwill impairment charge stemming from the economic impacts of the COVID-19 pandemic; the Money Transfer and EFT Segments, recorded goodwill impairment charges of $82.7 million and $21.9 million in the second quarter 2020, respectively.&nbsp; In order to provide more comparable operating results, these impairment charges are excluded from second quarter 2020 adjusted operating income, adjusted EBITDA and adjusted EPS.</p>\n<p><b>Segment and Other Results</b></p>\n<p><b>The EFT Processing Segment</b>&nbsp;reports the following results for the&nbsp;second quarter&nbsp;2021&nbsp;compared with the same period or date in&nbsp;2020:</p>\n<ul>\n <li>Revenues of&nbsp;$113.5&nbsp;million, a 45%&nbsp;increase from $78.5 million (36% increase on a constant currency basis).</li>\n <li>Operating loss of $25.3&nbsp;million, a 55%&nbsp;improvement from an operating loss of&nbsp;$56.6 million (60% improvement on a constant currency basis).</li>\n <li>Adjusted operating loss of $25.3 million, a 27% improvement from an adjusted operating loss of $34.7 million (35% improvement on a constant currency basis).</li>\n <li>Adjusted EBITDA of ($3.1&nbsp;million),&nbsp;a 79%&nbsp;improvement from ($14.8&nbsp;million) (86% improvement on a constant currency basis).</li>\n <li>Transactions of&nbsp;988 million, a&nbsp;46%&nbsp;increase from&nbsp;679 million.</li>\n <li>Total of 46,246 installed&nbsp;ATMs&nbsp;as of June 30, 2021, a 7% decrease from 49,719.&nbsp; Operated&nbsp;43,559&nbsp;active ATMs as of&nbsp;June 30, 2021, a&nbsp;5%&nbsp;increase from 41,648.</li>\n</ul>\n<p>Revenue, adjusted operating loss, and adjusted EBITDA improvements in the second quarter 2021 were driven by increased transactions resulting from the partial lifting of travel restrictions across Europe, together with a continued benefit from a significant volume increase in low-value point-of-sale transactions in Europe and low-value payment processing transactions from an Asia Pacific customer's bank wallet and e-commerce site.&nbsp;&nbsp;Adjusted operating loss in the second quarter 2020 excluded intangible asset impairment charges of $21.9 million.</p>\n<p>The EFT Segment's total installed&nbsp;ATMs&nbsp;were lower than the prior year due to the removal of nearly 2,400 low-margin outsourcing&nbsp;ATMs&nbsp;in India and approximately 3,150 outsourcing ATMs&nbsp;for which the ATM processing was brought in-house, partially offset by the addition of nearly 2,100&nbsp;Euronet-owned ATMs. The difference between installed and active ATMs&nbsp;is due to ATMs&nbsp;that have been seasonally closed or deactivated due to COVID-19-related travel restrictions.&nbsp; Nearly 6,000 ATMs&nbsp;were re-activated compared with the prior year, with approximately 2,700 still closed due to seasonal locations or continued COVID travel restrictions.&nbsp; Revenue, adjusted operating loss, and adjusted EBITDA improvements in the second quarter 2021 were driven by increased transactions resulting from the partial lifting of travel restrictions across Europe, together with a continued benefit from a significant volume increase in low-value point-of-sale transactions in Europe and low-value payment processing transactions from an Asia Pacific customer's bank wallet and e-commerce site.&nbsp;&nbsp;Adjusted operating loss in the second quarter 2020 excluded intangible asset impairment charges of $21.9 million.</p>\n<p><b>The epay Segment</b>&nbsp;reports the following results for the&nbsp;second quarter&nbsp;2021&nbsp;compared with the same period or date in&nbsp;2020:</p>\n<ul>\n <li>Revenues of&nbsp;$243.9&nbsp;million, a 30%&nbsp;increase from $187.6&nbsp;million (21% increase on a constant currency basis).</li>\n <li>Operating income of $27.2&nbsp;million, a&nbsp;51%&nbsp;increase from $18.0&nbsp;million&nbsp;(42% increase on a constant currency basis).</li>\n <li>Adjusted EBITDA of $29.3&nbsp;million, a&nbsp;49%&nbsp;increase from $19.7 million&nbsp;(40% increase on a constant currency basis).</li>\n <li>Transactions of&nbsp;788 million, a 35%&nbsp;increase from&nbsp;585 million.</li>\n <li>Point-of-sale (\"POS\") terminals of approximately&nbsp;748,000&nbsp;as of&nbsp;June 30, 2021, a 6% increase from approximately&nbsp;703,000.</li>\n <li>Retailer locations of approximately&nbsp;333,000&nbsp;as of&nbsp;June 30, 2021, a 3% increase from approximately&nbsp;324,000.</li>\n</ul>\n<p>Second quarter revenue, operating income and adjusted EBITDA growth was driven by continued digital media content growth together with mobile growth in certain markets. Approximately 5% of the second&nbsp;quarter revenue growth was from the benefit of certain customer promotion activity where revenue was recorded on a gross versus net basis.&nbsp; This promotion activity more significantly impacts revenue, but is generated from a relatively small number of transactions.</p>\n<p>Transaction growth was primarily driven by continued strength in digital channel sales, with particularly strong growth from customers in South America and Asia who have a high volume of low value in-app mobile top-up transactions.</p>\n<p><b>The Money Transfer Segment&nbsp;</b>reports the following results for the&nbsp;second quarter&nbsp;2021&nbsp;compared with the same period or date in&nbsp;2020:</p>\n<ul>\n <li>Revenues of $359.3&nbsp;million, a&nbsp;37%&nbsp;increase from $262.8 million&nbsp;(30% increase on a constant currency basis).</li>\n <li>Operating income of $44.0&nbsp;million, compared with an operating loss of $55.2 million.</li>\n <li>Adjusted operating income of $44.0 million, a 60% increase from $27.5 million (49% increase on a constant currency basis).</li>\n <li>Adjusted EBITDA of $53.2&nbsp;million,&nbsp;a&nbsp;48%&nbsp;increase from $36.0 million&nbsp;(37% increase on a constant currency basis).</li>\n <li>Total transactions of&nbsp;34.2 million, a&nbsp;33%&nbsp;increase from&nbsp;25.8 million.</li>\n <li>Network locations of approximately&nbsp;490,000&nbsp;as of&nbsp;June 30, 2021, a&nbsp;13%&nbsp;increase from approximately&nbsp;435,000.</li>\n</ul>\n<p>Second quarter&nbsp;revenue, adjusted operating income, adjusted EBITDA and transaction increases were the result of strong 36% growth in U.S. outbound and 44% growth&nbsp;in international-originated money transfers as a result of continued network expansion together with 74% growth in direct-to-consumer digital transactions.&nbsp; Growth was partially offset by declines in the U.S. domestic business. Adjusted operating income expanded faster than transactions as a result of a shift in the mix from lower-value domestic to higher-value cross border transactions, and leveraging a closely managed operating cost structure.&nbsp; Adjusted operating income in the second quarter 2020 excluded intangible asset impairment charges of $82.7 million.</p>\n<p><b>Corporate and Other</b>&nbsp;reports&nbsp;$15.8 million&nbsp;of expense for the&nbsp;second quarter&nbsp;2021&nbsp;compared with&nbsp;$7.5 million for the&nbsp;second quarter&nbsp;2020. The increase in corporate expense for the second quarter is largely due to higher long- and short-term compensation expense.</p>\n<p><b>Balance Sheet and Financial Position</b></p>\n<p>Unrestricted cash and cash equivalents on hand was&nbsp;$994.5 million&nbsp;as of&nbsp;June 30, 2021, compared to $1,145.4 million as of March 31, 2021. The decrease in unrestricted cash and cash equivalents is largely from cash used to fill&nbsp;ATMs&nbsp;that were re-activated as COVID-restrictions were lifted, partially offset by cash generated from operations of approximately $23 million in the second quarter of 2021.</p>\n<p>Total indebtedness was $1.19 billion&nbsp;as of&nbsp;June 30, 2021, compared to $1.15&nbsp;billion as of March 31, 2021, with substantially all of the outstanding debt having a maturity date on or after March 2025.&nbsp; As of June 30, 2021, availability under the Company's revolving credit facilities was approximately $950 million.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Euronet Worldwide Reports Second Quarter 2021 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEuronet Worldwide Reports Second Quarter 2021 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-28 09:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/euronet-worldwide-reports-second-quarter-012000016.html><strong>GlobeNewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LEAWOOD, Kan., July 27, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports second quarter 2021 financial ...</p>\n\n<a href=\"https://finance.yahoo.com/news/euronet-worldwide-reports-second-quarter-012000016.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EEFT":"嘉银通"},"source_url":"https://finance.yahoo.com/news/euronet-worldwide-reports-second-quarter-012000016.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2154394374","content_text":"LEAWOOD, Kan., July 27, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports second quarter 2021 financial results.\nEuronet reports the following consolidated results for the second quarter 2021 compared with the same period of 2020:\n\nRevenues of $714.7 million, a 35% increase from $527.8 million (28% increase on a constant currency1 basis).\n\nOperating income of $30.1 million, compared with an operating loss of $101.3 million.\nAdjusted operating income2 of $30.1 million, an 812% increase from $3.3 million (748% increase on a constant currency basis).\nAdjusted EBITDA3 of $74.7 million,  a 104% increase from $36.6 million (92% increase on a constant currency basis).\nNet income attributable to Euronet of $8.6 million or $0.16 diluted earnings per share, compared with net loss of $115.8 million or $2.18 diluted loss per share.\nAdjusted earnings per share4 of $0.53, compared with $0.04.\nEuronet's cash and cash equivalents were $994.5 million and ATM cash was $565.1 million, totaling $1,560 million as of June 30, 2021, and availability under its revolving credit facilities was approximately $950 million.\n\nSee the reconciliation of non-GAAP items in the attached financial schedules.\n\"I am very pleased that the epay and Money Transfer segments each delivered record second quarter earnings, with both segments posting double-digit earnings growth for the fourth consecutive quarter,\" stated Michael J. Brown, Euronet's Chairman and CEO. \"Our industry leading technology, expansive physical networks and continued investment in growing our digital channel presence continue to produce strong growth trends in both segments - including strong double-digit digital transaction growth rates of 74% and 51% year-over-year in Money Transfer and epay, respectively.  I am also happy to see improving transaction trends in EFT as more countries have opened their borders and eased quarantine restrictions.\"\nThe stronger than expected second quarter revenue growth rate was largely the result of continued strength in year-over-year growth trends in the Money Transfer segment as the Company's physical and digital networks continue to expand.  In the EFT Segment, we saw immediate improvement in transactions in the early part of the quarter as borders began to reopen and quarantine restrictions were lifted.  However, the pace of these reopening efforts was more irregular than we expected which resulted in fewer higher-value cross-border transactions than we anticipated at the beginning of the quarter resulting in consolidated adjusted EBITDA coming in at the lower end of our expected range.  Year-over-year cross-border transaction growth accelerated in mid-June and continued into the beginning of July as certain countries eased quarantine requirements for vaccinated travelers.\nTaking into consideration current trends in the business, the current COVID-19 management mandates, trends in more contagious COVID variants, current vaccination rates and approximately 3,700 more active Euronet-owned ATMs than the prior year for this year's peak travel season, the Company anticipates that its third quarter 2021 adjusted EBITDA will be in the range of approximately $135 million to $145 million.\nIn the second quarter of 2020, the Company recorded a $104.6 million non-cash goodwill impairment charge stemming from the economic impacts of the COVID-19 pandemic; the Money Transfer and EFT Segments, recorded goodwill impairment charges of $82.7 million and $21.9 million in the second quarter 2020, respectively.  In order to provide more comparable operating results, these impairment charges are excluded from second quarter 2020 adjusted operating income, adjusted EBITDA and adjusted EPS.\nSegment and Other Results\nThe EFT Processing Segment reports the following results for the second quarter 2021 compared with the same period or date in 2020:\n\nRevenues of $113.5 million, a 45% increase from $78.5 million (36% increase on a constant currency basis).\nOperating loss of $25.3 million, a 55% improvement from an operating loss of $56.6 million (60% improvement on a constant currency basis).\nAdjusted operating loss of $25.3 million, a 27% improvement from an adjusted operating loss of $34.7 million (35% improvement on a constant currency basis).\nAdjusted EBITDA of ($3.1 million), a 79% improvement from ($14.8 million) (86% improvement on a constant currency basis).\nTransactions of 988 million, a 46% increase from 679 million.\nTotal of 46,246 installed ATMs as of June 30, 2021, a 7% decrease from 49,719.  Operated 43,559 active ATMs as of June 30, 2021, a 5% increase from 41,648.\n\nRevenue, adjusted operating loss, and adjusted EBITDA improvements in the second quarter 2021 were driven by increased transactions resulting from the partial lifting of travel restrictions across Europe, together with a continued benefit from a significant volume increase in low-value point-of-sale transactions in Europe and low-value payment processing transactions from an Asia Pacific customer's bank wallet and e-commerce site.  Adjusted operating loss in the second quarter 2020 excluded intangible asset impairment charges of $21.9 million.\nThe EFT Segment's total installed ATMs were lower than the prior year due to the removal of nearly 2,400 low-margin outsourcing ATMs in India and approximately 3,150 outsourcing ATMs for which the ATM processing was brought in-house, partially offset by the addition of nearly 2,100 Euronet-owned ATMs. The difference between installed and active ATMs is due to ATMs that have been seasonally closed or deactivated due to COVID-19-related travel restrictions.  Nearly 6,000 ATMs were re-activated compared with the prior year, with approximately 2,700 still closed due to seasonal locations or continued COVID travel restrictions.  Revenue, adjusted operating loss, and adjusted EBITDA improvements in the second quarter 2021 were driven by increased transactions resulting from the partial lifting of travel restrictions across Europe, together with a continued benefit from a significant volume increase in low-value point-of-sale transactions in Europe and low-value payment processing transactions from an Asia Pacific customer's bank wallet and e-commerce site.  Adjusted operating loss in the second quarter 2020 excluded intangible asset impairment charges of $21.9 million.\nThe epay Segment reports the following results for the second quarter 2021 compared with the same period or date in 2020:\n\nRevenues of $243.9 million, a 30% increase from $187.6 million (21% increase on a constant currency basis).\nOperating income of $27.2 million, a 51% increase from $18.0 million (42% increase on a constant currency basis).\nAdjusted EBITDA of $29.3 million, a 49% increase from $19.7 million (40% increase on a constant currency basis).\nTransactions of 788 million, a 35% increase from 585 million.\nPoint-of-sale (\"POS\") terminals of approximately 748,000 as of June 30, 2021, a 6% increase from approximately 703,000.\nRetailer locations of approximately 333,000 as of June 30, 2021, a 3% increase from approximately 324,000.\n\nSecond quarter revenue, operating income and adjusted EBITDA growth was driven by continued digital media content growth together with mobile growth in certain markets. Approximately 5% of the second quarter revenue growth was from the benefit of certain customer promotion activity where revenue was recorded on a gross versus net basis.  This promotion activity more significantly impacts revenue, but is generated from a relatively small number of transactions.\nTransaction growth was primarily driven by continued strength in digital channel sales, with particularly strong growth from customers in South America and Asia who have a high volume of low value in-app mobile top-up transactions.\nThe Money Transfer Segment reports the following results for the second quarter 2021 compared with the same period or date in 2020:\n\nRevenues of $359.3 million, a 37% increase from $262.8 million (30% increase on a constant currency basis).\nOperating income of $44.0 million, compared with an operating loss of $55.2 million.\nAdjusted operating income of $44.0 million, a 60% increase from $27.5 million (49% increase on a constant currency basis).\nAdjusted EBITDA of $53.2 million, a 48% increase from $36.0 million (37% increase on a constant currency basis).\nTotal transactions of 34.2 million, a 33% increase from 25.8 million.\nNetwork locations of approximately 490,000 as of June 30, 2021, a 13% increase from approximately 435,000.\n\nSecond quarter revenue, adjusted operating income, adjusted EBITDA and transaction increases were the result of strong 36% growth in U.S. outbound and 44% growth in international-originated money transfers as a result of continued network expansion together with 74% growth in direct-to-consumer digital transactions.  Growth was partially offset by declines in the U.S. domestic business. Adjusted operating income expanded faster than transactions as a result of a shift in the mix from lower-value domestic to higher-value cross border transactions, and leveraging a closely managed operating cost structure.  Adjusted operating income in the second quarter 2020 excluded intangible asset impairment charges of $82.7 million.\nCorporate and Other reports $15.8 million of expense for the second quarter 2021 compared with $7.5 million for the second quarter 2020. The increase in corporate expense for the second quarter is largely due to higher long- and short-term compensation expense.\nBalance Sheet and Financial Position\nUnrestricted cash and cash equivalents on hand was $994.5 million as of June 30, 2021, compared to $1,145.4 million as of March 31, 2021. The decrease in unrestricted cash and cash equivalents is largely from cash used to fill ATMs that were re-activated as COVID-restrictions were lifted, partially offset by cash generated from operations of approximately $23 million in the second quarter of 2021.\nTotal indebtedness was $1.19 billion as of June 30, 2021, compared to $1.15 billion as of March 31, 2021, with substantially all of the outstanding debt having a maturity date on or after March 2025.  As of June 30, 2021, availability under the Company's revolving credit facilities was approximately $950 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}