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Document and Entity Information Document - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Feb. 28, 2017	Jun. 30, 2016
Entity Information [Line Items]
Entity Registrant Name	EURONET WORLDWIDE INC
Entity Central Index Key	0001029199
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 3,436.0
Entity Common Stock, Shares Outstanding		52,359,621

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 734,414	$ 457,518
Restricted cash	77,674	45,312
Inventory - PINs and other	78,115	72,108
Trade accounts receivable, net of allowances for doubtful accounts of $18,369 at December 31, 2016 and $19,140 at December 31, 2015	502,989	423,299
Prepaid expenses and other current assets	191,796	132,773
Total current assets	1,584,988	1,131,010
Property and equipment, net of accumulated depreciation of $262,470 at December 31, 2016 and $242,111 at December 31, 2015	202,145	157,368
Goodwill	689,713	685,178
Acquired intangible assets, net of accumulated amortization of $150,347 at December 31, 2016 and $131,095 at December 31, 2015	165,331	167,972
Other assets, net of accumulated amortization of $36,984 at December 31, 2016 and $32,434 at December 31, 2015	70,695	51,186
Total assets	2,712,872	2,192,714
Current liabilities:
Trade accounts payable	456,682	456,159
Accrued expenses and other current liabilities	615,153	382,873
Current portion of capital lease obligations	3,293	1,991
Short-term debt obligations and current maturities of long-term debt obligations	32,161	12,060
Income taxes payable	27,611	14,962
Deferred revenue	44,200	35,887
Total current liabilities	1,179,100	903,932
Debt obligations, net of current portion	561,663	405,472
Capital lease obligations, net of current portion	6,969	4,147
Deferred income taxes	44,079	33,924
Other long-term liabilities	20,504	19,311
Total liabilities	1,812,315	1,366,786
Euronet Worldwide, Inc. stockholders' equity:
Preferred Stock, $0.02 par value. 10,000,000 shares authorized; none issued	0	0
Common Stock, $0.02 par value. 90,000,000 shares authorized; 58,389,242 issued at December 31, 2016 and 57,961,043 issued at December 31, 2015	1,168	1,159
Additional paid-in capital	1,045,663	1,023,254
Treasury stock, at cost, 6,085,841 shares at December 31, 2016 and 4,929,241 shares at December 31, 2015	(215,462)	(138,750)
Retained earnings (Accumulated deficit)	278,842	104,427
Accumulated other comprehensive loss	(210,662)	(165,528)
Total Euronet Worldwide, Inc. stockholders' equity	899,549	824,562
Noncontrolling interests	1,008	1,366
Total equity	900,557	825,928
Total liabilities and equity	$ 2,712,872	$ 2,192,714

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts receivable	$ 18,369	$ 19,140
Property and equipment, accumulated depreciation	262,470	242,111
Acquired intangible assets, accumulated amortization	150,347	131,095
Other assets, accumulated amortization	$ 36,984	$ 32,434
Preferred stock, par value per share	$ 0.02	$ 0.02
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.02	$ 0.02
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares, issued	58,389,242	57,961,043
Treasury stock, shares	6,085,841	4,929,241

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenues	$ 519,829	$ 524,025	$ 476,867	$ 437,894	$ 470,579	$ 481,373	$ 425,148	$ 395,162	$ 1,958,615	$ 1,772,262	$ 1,664,150
Operating expenses:
Direct operating costs									1,174,545	1,081,849	1,033,479
Salaries and benefits									288,420	259,162	243,220
Selling, general and administrative									165,348	156,385	157,265
Depreciation and amortization									80,529	70,025	71,455
Total operating expenses									1,708,842	1,567,421	1,505,419
Operating income	58,106	90,468	59,310	41,889	55,224	70,274	47,180	32,163	249,773	204,841	158,731
Other income (expense):
Interest income									1,696	2,170	2,549
Interest expense									(28,332)	(24,814)	(12,330)
Other gains (losses), net									19,956	315	(1,801)
Foreign currency exchange (loss) gain, net									(10,200)	(41,418)	(5,646)
Other expense, net									(16,880)	(63,747)	(17,228)
Income before income taxes									232,893	141,094	141,503
Income tax expense									(58,795)	(42,602)	(40,015)
Net income	28,655	60,782	55,577	29,084	33,522	31,324	26,521	7,125	174,098	98,492	101,488
Less: Net loss attributable to noncontrolling interests									317	316	160
Net income attributable to Euronet Worldwide, Inc.	$ 28,911	$ 60,733	$ 55,677	$ 29,094	$ 33,487	$ 31,334	$ 26,809	$ 7,178	$ 174,415	$ 98,808	$ 101,648
Earnings per share attributable to Euronet Worldwide, Inc. stockholders - basic	$ 0.55	$ 1.16	$ 1.07	$ 0.55	$ 0.63	$ 0.60	$ 0.52	$ 0.14	$ 3.34	$ 1.89	$ 1.96
Earnings per share attributable to Euronet Worldwide, Inc. stockholders - diluted	$ 0.54	$ 1.11	$ 1.04	$ 0.53	$ 0.61	$ 0.57	$ 0.50	$ 0.13	$ 3.23	$ 1.83	$ 1.89
Weighted average shares outstanding - basic									52,276,951	52,274,573	51,757,867
Weighted average shares outstanding - diluted									54,001,079	54,076,676	53,901,040

Consolidated Statements of Changes in Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2013	$ 638,455	$ 1,086	$ 809,640	$ (68,122)	$ (96,029)	$ (10,453)	$ 2,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures		914,371
Treasury Stock, Shares, Acquired		(1,206,500)
No. of Shares Outstanding Period End at Dec. 31, 2014	51,596,767
No. of Shares Outstanding Period End at Dec. 31, 2013	50,626,242
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Euronet Worldwide, Inc.	$ 101,648				101,648
Stock issued under employee stock plans, value	11,250	$ 18	12,386	(1,154)
Share-based compensation	12,902		12,902
Net income (loss)	101,488
Net loss attributable to noncontrolling interests	(160)						(160)
Shares issued in connection with acquisition		1,262,654
Stock Issued During Period, Value, Acquisitions	56,554	$ 25	56,529
Issuance of convertible notes	64,351		64,351
Other Comprehensive Income (Loss)	(87,675)					(87,469)	(206)
Repurchase of shares	(64,512)			(64,512)
Stockholders' Equity, Other	(1)		(93)				92
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2014	$ 732,812	$ 1,129	955,715	(133,788)	5,619	(97,922)	2,059
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures		743,782
Treasury Stock, Shares, Acquired		(1,600)
No. of Shares Outstanding Period End at Dec. 31, 2015	53,031,802
No. of Shares Outstanding Period End at Dec. 31, 2014	51,596,767
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Euronet Worldwide, Inc.	$ 98,808				98,808
Stock issued under employee stock plans, value	6,825	$ 16	11,686	(4,877)
Share-based compensation	12,802		12,802
Net income (loss)	98,492
Net loss attributable to noncontrolling interests	(316)						(316)
Shares issued in connection with acquisition		692,853
Stock Issued During Period, Value, Acquisitions	43,061	$ 14	43,047
Other Comprehensive Income (Loss)	(67,756)					(67,606)	(150)
Repurchase of shares	(85)			(85)
Stockholders' Equity, Other	(223)		4				(227)
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2015	$ 825,928	$ 1,159	1,023,254	(138,750)	104,427	(165,528)	1,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures		421,170
Treasury Stock, Shares, Acquired		(1,149,571)
No. of Shares Outstanding Period End at Dec. 31, 2016	52,303,401
No. of Shares Outstanding Period End at Dec. 31, 2015	53,031,802
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Euronet Worldwide, Inc.	$ 174,415				174,415
Stock issued under employee stock plans, value	6,292	$ 9	7,426	(1,143)
Share-based compensation	14,983		14,983
Net income (loss)	174,098
Net loss attributable to noncontrolling interests	(317)						(317)
Stock Issued During Period, Value, Acquisitions	0
Other Comprehensive Income (Loss)	(45,175)					(45,134)	(41)
Repurchase of shares	(75,569)			(75,569)
Total Euronet Worldwide, Inc stockholders' equity at Dec. 31, 2016	$ 900,557	$ 1,168	$ 1,045,663	$ (215,462)	$ 278,842	$ (210,662)	$ 1,008

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income	$ 174,098	$ 98,492	$ 101,488
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	80,529	70,025	71,455
Share-based compensation	14,983	12,802	12,902
Unrealized foreign exchange loss, net	10,200	41,418	5,646
Other (gains) losses	(19,449)	0	1,801
Deferred income taxes	850	(5,017)	(5,012)
Accretion of convertible debt discount and amortization of debt issuance costs	12,885	12,164	2,934
Changes in working capital, net of amounts acquired:
Income taxes payable, net	13,935	(13,467)	5,642
Restricted cash	(23,342)	17,621	4,653
Inventory - PINs and other	(6,712)	7,058	(19)
Trade accounts receivable	(87,732)	(66,075)	(17,058)
Prepaid expenses and other current assets	(68,549)	(39,796)	(21,266)
Trade accounts payable	9,705	39,631	25,773
Deferred revenue	9,426	3,898	4,085
Accrued expenses and other current liabilities	257,287	37,453	42,376
Changes in noncurrent assets and liabilities	(9,932)	(1,153)	(373)
Net cash provided by operating activities	368,182	215,054	235,027
Cash flows from investing activities:
Acquisitions, net of cash acquired	(68,266)	(113,969)	(84,703)
Purchases of property and equipment	(87,411)	(74,620)	(63,098)
Purchases of other long-term assets	(6,175)	(6,391)	(5,950)
Proceeds from sale of investment	11,900	0	0
Other, net	1,288	997	719
Net cash used in investing activities	(148,664)	(193,983)	(153,032)
Cash flows from financing activities:
Proceeds from issuance of shares	6,292	10,510	11,099
Repurchase of shares	(77,360)	(6,078)	(66,390)
Borrowings from revolving credit agreements	2,648,093	1,321,622	2,184,153
Repayments of revolving credit agreements	(2,495,632)	(1,318,759)	(2,307,622)
Repayments of long-term debt obligations	(7,031)	(5,156)	(4,814)
Repayments of capital lease obligations	(2,943)	(3,211)	(2,518)
Net borrowing (repayments of) from short-term debt obligations	6,750	(1,825)	4,336
Proceeds from long-term debt obligations	0	0	411,500
Debt issuance costs	0	0	(13,259)
Other, net	1,341	1,707	1,596
Net cash provided by (used in) financing activities	79,510	(1,190)	218,081
Effect of exchange rate changes on cash and cash equivalents	(22,132)	(30,373)	(41,892)
Increase (decrease) in cash and cash equivalents	276,896	(10,492)	258,184
Cash and cash equivalents at beginning of period	457,518	468,010	209,826
Cash and cash equivalents at end of period	734,414	457,518	468,010
Interest paid during the period	14,442	11,804	7,685
Income taxes paid during the period	43,178	54,607	39,574
Other Significant Noncash Transaction, Value of Consideration Received	7,549
Equity issued in connection with acquisition	$ 0	$ 43,061	$ 56,554

Summary of Significant Accounting Policies and Practices (Note)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES

Summary of Significant Accounting Policies and Practices

Foreign currencies

Assets and liabilities denominated in currencies other than the functional currency of a subsidiary are remeasured at rates of exchange on the balance sheet date. Resulting gains and losses on foreign currency transactions are included in the Consolidated Statements of Income.

The financial statements of foreign subsidiaries where the functional currency is not the U.S. dollar are translated to U.S. dollars using (i) exchange rates in effect at period end for assets and liabilities, and (ii) weighted average exchange rates during the period for revenues and expenses. Adjustments resulting from translation of such financial statements are reflected in accumulated other comprehensive income (loss) as a separate component of consolidated equity.

Cash equivalents

The Company considers all highly liquid investments, with an original maturity of three months or less, and certificates of deposit, which may be withdrawn at any time at the discretion of the Company without penalty, to be cash equivalents.

Inventory - PINs and other

Inventory - PINs and other is valued at the lower of cost or market value and primarily represents prepaid personal identification number (“PIN”) inventory for prepaid mobile airtime related to the epay Segment. PIN inventory is generally managed on a specific identification basis that approximates first in, first out for the respective denomination of prepaid mobile airtime sold. Inventory also includes vouchers, merchandise for physical reward fulfillment and other electronic payment products. Additionally, from time to time, Inventory - PINs and other may include ATMS, POS terminals, and mobile phone handsets held by the Company for resale.

Property and equipment

Property and equipment are stated at cost, less accumulated depreciation. Property and equipment acquired in acquisitions have been recorded at estimated fair values as of the acquisition date.

Depreciation is generally calculated using the straight-line method over the estimated useful lives of the respective assets. Depreciation and amortization rates are generally as follows:



ATMs or ATM upgrades	5 - 7 years
Computers and software	3 - 5 years
POS terminals	3 - 5 years
Vehicles and office equipment	3 - 10 years
Leasehold improvements	Over the lesser of the lease term or estimated useful life

Goodwill and other intangible assets

The Company accounts for goodwill and other intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350, Intangibles - Goodwill and Other (“ASC 350”). ASC 350 requires that the Company test for impairment on an annual basis and whenever events or circumstances dictate. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment.

ASC 350 provides an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (more than 50%) that the estimated fair value of a reporting unit is less than its carrying amount. If an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not, the entity is then required to perform the existing two-step quantitative impairment test (described below), otherwise no further analysis is required. An entity also may elect not to perform the qualitative assessment and, instead, proceed directly to the two-step quantitative impairment test. The Company has a policy for its annual review of goodwill to perform the qualitative assessment for all reporting units not subjected directly to the two-step quantitative impairment test.

Under the qualitative assessment, various events and circumstances (or factors) that would affect the estimated fair value of a reporting unit are identified (similar to impairment indicators). These factors are then classified by the type of impact they would have on the estimated fair value using positive, neutral, and adverse categories based on current business conditions. Furthermore, the Company considers the results of the most recent two-step quantitative impairment test completed for a reporting unit and compares, among other factors, the weighted average cost of capital ("WACC") between the current and prior years for each reporting unit.

Under the two-step quantitative impairment test, the evaluation of impairment involves comparing the current fair value of each reporting unit to its carrying value, including goodwill. The Company uses weighted results from the discounted cash flow model ("DCF model") and guideline public company method ("Market Approach model") to estimate the current fair value of its reporting units when testing for impairment, as management believes forecasted cash flows and EBITDA are the best indicator of such fair value. A number of significant assumptions and estimates are involved in the application of the DCF model to forecast operating cash flows, including sales volumes and gross margins, tax rates, capital spending, discount rates and working capital changes. Most of these assumptions vary significantly among the reporting units. Significant assumptions in the Market Approach model are projected EBITDA, selected market multiple, and the estimated control premium.

In the event the estimated fair value of a reporting unit is less than the carrying value, additional analysis is required. The additional analysis would compare the carrying amount of the reporting unit's goodwill with the implied fair value of that goodwill. The implied fair value of goodwill is the excess of the fair value of the reporting unit over the fair value amounts assigned to all of the assets and liabilities of that unit as if the reporting unit was acquired in a business combination and the fair value of the reporting unit represented the purchase price. If the carrying value of goodwill exceeds its implied fair value, an impairment loss equal to such excess would be recognized.

The Company completed its annual goodwill impairment test in the fourth quarter of 2016. It determined, after performing a qualitative review of each reporting unit, that it is more likely than not that the fair value of each of our reporting units exceeds the respective carrying amounts. Accordingly, there was no indication of impairment, and the two-step goodwill impairment test was not performed.

Other Intangible Assets - In accordance with ASC 350, intangible assets with finite lives are amortized over their estimated useful lives. Unless otherwise noted, amortization is calculated using the straight-line method over the estimated useful lives of the assets as follows:



Non-compete agreements	2 - 5 years
Trademarks and trade names	2 - 20 years
Software	3 - 10 years
Customer relationships	6 - 20 years

The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment of long-lived assets was recorded during 2016, 2015 or 2014.

See Note 8, Goodwill and Acquired Intangible Assets, Net, for additional information regarding the impairment of goodwill and other intangible assets.

Other assets

Other assets include investments in unconsolidated affiliates, capitalized software development costs and capitalized payments for new or renewed contracts, contract renewals and customer conversion costs. Euronet capitalizes initial payments for new or renewed contracts to the extent recoverable through future operations, contractual minimums and/or penalties in the case of early termination. The Company's accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated ongoing net future cash flows related to the contract or the termination fees the Company would receive in the event of early termination of the contract by the customer.

The Company accounts for investments in affiliates using the equity method of accounting when it has the ability to exercise significant influence over the affiliate, but does not have a controlling interest. Equity losses in affiliates are generally recognized until the Company's investment is zero. As of December 31, 2016 and 2015, the Company had no material investments in unconsolidated affiliates.

Convertible notes

The Company accounts for its convertible debt instruments that may be settled in cash upon conversion in accordance with ASC Topic 470, Debt (“ASC 470”), which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company's nonconvertible debt borrowing rate. Further, the Company applies ASC 470-20-35-13, which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense.

Noncontrolling interests

The Company accounts for noncontrolling interests in its consolidated financial statements according to ASC Topic 810, Consolidations (“ASC 810”), which requires noncontrolling interests to be reported as a component of equity.

Business combinations

The Company accounts for business combinations in accordance with ASC Topic 805, Business Combinations (“ASC 805”), which requires most identifiable assets, liabilities, noncontrolling interests and goodwill acquired in a business combination to be recorded at “full fair value” at the acquisition date. Transaction-related costs are expensed in the period incurred.

Income taxes

Income taxes are accounted for 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 and operating loss and tax credit carryforwards. 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 income in the period that includes the enactment date.

In accordance with ASC Topic 740, Income Taxes (“ASC 740”), the Company's policy is to record estimated interest and penalties related to the underpayment of income taxes as income tax expense in the Consolidated Statements of Income. See Note 13, Taxes, for further discussion regarding these provisions.

Presentation of taxes collected and remitted to governmental authorities

The Company presents taxes collected and remitted to governmental authorities on a net basis in the accompanying Consolidated Statements of Income.

Fair value measurements

The Company applies the provisions of ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), regarding fair value measurements for assets and liabilities. ASC 820 defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. The provisions apply whenever other accounting pronouncements require or permit fair value measurements. See Note 17, Financial Instruments and Fair Value Measurements, for the required fair value disclosures.

Accounting for derivative instruments and hedging activities

The Company accounts for derivative instruments and hedging activities in accordance with ASC Topic 815, Derivatives and Hedging (“ASC 815”), which requires that all derivative instruments be recognized as either assets or liabilities on the balance sheet at fair value. Primarily in the Money Transfer Segment, the Company enters into foreign currency derivative contracts, mainly forward contracts, to offset foreign currency exposure related to money transfer settlement assets and liabilities in currencies other than the U.S. dollar, derivative contracts written to its customers arising from its cross-currency money transfer services and certain assets and liability positions denominated in currencies other than the U.S. dollar . These contracts are considered derivative instruments under the provisions of ASC 815; however, the Company does not designate such instruments as hedges for accounting purposes. Accordingly, changes in the value of these contracts are recognized immediately as a component of foreign currency exchange gain (loss), net in the Consolidated Statements of Income.

Cash flows resulting from derivative instruments are included in operating activities in the Company's Consolidated Statements of Cash Flows. The Company enters into derivative instruments with highly credit-worthy financial institutions and does not use derivative instruments for trading or speculative purposes. See Note 11, Derivative Instruments and Hedging Activities, for further discussion of derivative instruments.

Revenue recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collection is reasonably assured. The majority of the Company's revenues are comprised of monthly recurring management fees and transaction-based fees. A description of the major components of revenue by business segment is as follows:

EFT Processing - Revenues in the EFT Processing Segment are primarily derived from transaction and management fees and foreign currency exchange margin from owned and outsourced ATM, POS and card processing networks and from the sale of EFT software solutions for electronic payment and transaction delivery systems, and fees or margin earned from value added services, including dynamic currency conversion.

Transaction-based fees include charges for cash withdrawals, debit or credit card transactions, balance inquiries, transactions not completed because the relevant card issuer does not give authorization and prepaid mobile airtime recharges. Outsourcing services are generally billed on the basis of a fixed monthly fee per ATM, plus a transaction-based fee. Transaction-based fees are recognized at the time the transactions are processed and outsourcing management fees are recognized ratably over the contract period.

Certain of the Company's non-cancelable customer contracts provide for the receipt of up-front fees from the customer and/or decreasing or increasing fee schedules over the agreement term for substantially the same level of services to be provided by the Company. The Company recognizes revenue under these contracts based on proportional performance of services over the term of the contract. This generally results in “straight-line” (i.e., consistent value per period) revenue recognition of the contracts' total cash flows, including any up-front payment received from the customer.

Revenues from the sale of EFT software solutions represent software license fees, professional installation and customization fees, ongoing software maintenance fees, hardware sales and transaction fees. The Company recognizes professional service fee revenue in accordance with the provisions of ASC Topic 985, Software (“ASC 985”) and ASC Topic 605, Revenue Recognition (“ASC 605”). ASC 985 generally requires revenue earned on software arrangements involving multiple elements to be allocated to each element based on the relative fair values of those elements.

Revenues from software licensing agreement contracts are recognized over the professional services portion of the contract term using the percentage-of-completion method, following the guidance in ASC 605, as prescribed by ASC 985. Software maintenance revenue is recognized over the contractual period or as the maintenance-related service is performed. Revenues from the sale of hardware are generally recognized when title passes to the customer.

epay - Revenue generated in the epay Segment is primarily derived from commissions or processing fees associated with distribution and/or processing of prepaid mobile airtime and other electronic payment products. These fees and commissions are received from mobile phone and other telecommunication operators, top-up distributors, other product vendors or distributors or from retailers. In accordance with ASC 605, commissions received are recognized as revenue during the period in which the Company provides the service. The portion of the commission that is paid to retailers is generally recorded as a direct operating cost. However, in circumstances where the Company is not the primary obligor in the distribution of the electronic payment products, those commissions are recorded as a reduction of revenue. In selling certain products, the Company is the primary obligor in the arrangements; accordingly, the gross sales value of the products are recorded as revenue and the purchase cost as direct operating cost. Transactions are processed through a network of POS terminals and direct connections to the electronic payment systems of retailers. Transaction processing fees are recognized at the time the transactions are processed.

Money Transfer - In accordance with ASC 605, revenues for money transfer and other services represent a transaction fee in addition to a margin earned from purchasing currency at wholesale exchange rates and selling the currency to customers at retail exchange rates. Revenues and the associated direct operating cost are recognized at the time the transaction is processed. The Company has origination and distribution agents in place, which each earn a fee for the respective service. These fees are reflected as direct operating costs.

Share-based compensation

The Company follows the provisions of ASC Topic 718, Compensation - Stock Compensation (“ASC 718”), for equity classified awards, which requires the determination of the fair value of the share-based compensation at the grant date and subsequent recognition of the related expense over the period in which the share-based compensation is earned (“requisite service period”).

The amount of future compensation expense related to awards of nonvested shares or nonvested share units (“restricted stock”) is based on the market price for Euronet Common Stock at the grant date. The grant date is the date at which all key terms and conditions of the grant have been determined and the Company becomes contingently obligated to transfer equity to the employee who renders the requisite service, generally the date at which grants are approved by the Company's Board of Directors or Compensation Committee thereof. Share-based compensation expense for awards with only service conditions is generally recognized as expense on a “straight-line” basis over the requisite service period. For awards that vest based on achieving periodic performance conditions, expense is recognized on a “graded attribution method.” The graded attribution method results in expense recognition on a straight-line basis over the requisite service period for each separately vesting portion of an award. The Company has elected to use the “with and without method” when calculating the income tax benefit associated with its share-based payment arrangements. See Note 15, Stock Plans, for further disclosure.

Recently issued accounting pronouncements

In January 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount. The amendments of this ASU are effective for reporting periods beginning after December 15, 2019. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements and related disclosures.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business. The amendments in this ASU clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments of this ASU are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements and related disclosures.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash, which provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should now be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. The amendments of this ASU are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. Other than the revised statement of cash flows presentation of restricted cash, the adoption of this ASU is not expected to have an impact on the Company’s consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. The amendments in this ASU state that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory, such as intellectual property and property and equipment, when the transfer occurs. This is a change from current GAAP, which requires companies to defer the income tax effects of intercompany transfers of assets until the asset has been sold to an outside party or otherwise recognized (i.e., depreciation, amortization, or impairment). The amendments of this ASU are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements and related disclosures.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which addresses eight specific issues on how certain cash receipts and cash payments are presented and classified in the statement of cash flows with the objective of reducing existing diversity in practice with respect to these items. The amendments of this ASU are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. The Company is evaluating the new guidance, but does not expect it to have a significant impact on its consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application will be permitted for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which addresses how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, and to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The ASU also addresses such areas as an accounting policy election for forfeitures and the amount an employer can withhold to cover income taxes and still qualify for equity classification. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815), Contingent Put and Call Options in Debt Instruments. The new standard clarifies that an entity is required to assess whether the economic characteristics and risks of embedded put or call options are clearly and closely related to those of their debt hosts only in accordance with the four-step decision sequence in ASC 815, Derivatives and Hedging. For contingently exercisable put or call options, an entity does not have to assess whether the event that triggers the ability to exercise a put or call option is related to interest rates or credit risk of the entity. The ASU does not change the existing criteria for determining when bifurcation of an embedded put or call option in a debt instrument is required. The amendments of this ASU are effective for annual periods beginning after December 15, 2016, with early adoption permitted. Entities are required to apply the guidance to existing debt instruments using a modified retrospective transition method as of the period of adoption. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products. The new standard specifies that liabilities within its scope are considered to be financial liabilities, and amends the guidance in ASC 405-20, Extinguishments of Liabilities, by directing entities to derecognize prepaid stored-value product liabilities based on expected breakage in proportion to the pattern of rights expected to be exercised by the consumer. Derecognition for breakage is permitted only to the extent that it is probable that a significant reversal of recognized breakage will not subsequently occur. The new standard is consistent with the breakage guidance in the new revenue standard. The ASU is effective for annual periods beginning after December 15, 2017, and is applied either using a modified retrospective transition method or retrospectively. Early adoption is permitted. The Company does not expect that the adoption of this standard will have a significant impact on its consolidated financial statements and related disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which will update the existing guidance on accounting for leases and require new qualitative and quantitative disclosures about the Company’s leasing activities. The new standard requires lessees to account for all leases on the balance sheet, except for certain short-term leases that have a maximum possible lease term of 12 months. The accounting for lessors is largely unchanged from the previous accounting guidance, except for leverage lease accounting which is not permitted for leases entered into or modified after the effective date of the new standard. The new standard is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that the Company may elect to apply. The Company is currently evaluating the expected impact of the adoption of this standard on its consolidated financial statements and related disclosures.

In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. ASU 2016-01 is effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The Company does not expect that the adoption of this standard will have a significant impact on its consolidated financial statements and related disclosures.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In July 2015, the FASB approved a one-year deferral of the effective date of the new revenue recognition standard. The new standard will become effective for the Company on January 1, 2018.The standard permits the use of either the full retrospective or modified retrospective transition method.

In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue versus Net). In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing. In May 2016, the FASB issued ASU 2016-11, Revenue from Contracts with Customers (Topic 606) and Derivatives and Hedging (Topic 815) - Rescission of SEC Guidance Because of ASU 2014-09 and 2014-16, and ASU 2016-12, Revenue from Contracts with Customers (Topic 606) - Narrow Scope Improvements and Practical Expedients. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (Topic 606). These ASUs clarify the implementation guidance on a few narrow areas, make minor corrections and adds some practical expedients to the guidance in Topic 606.

The Company has performed a review of the requirements of the new revenue standards and is in the process of reviewing customer contracts under the new standard. The Company plans to adopt these ASUs on January 1, 2018 and expects to apply the modified retrospective transition method, which would result in an adjustment to the opening balance of retained earnings for the cumulative effect, as appropriate, of initially applying the standards at the date of initial application.

The Company is currently evaluating what effect, if any, the new revenue standards will have on its consolidated financial statements and related disclosures.

Stockholders' Equity (Note)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Earnings Per Share

Basic earnings per share has been computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the respective period. Diluted earnings per share has been computed by dividing earnings available to common stockholders by the weighted average shares outstanding during the respective period, after adjusting for the potential dilution of options to purchase the Company's Common Stock, assumed vesting of restricted stock and the assumed conversion of the Company's convertible debt.

The following table provides the computation of diluted weighted average number of common shares outstanding:



	Year Ended December 31,
	2016	2015	2014
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	52,276,951	52,274,573	51,757,867
Incremental shares from assumed exercise of stock options and vesting of restricted stock	1,705,224	1,783,199	2,143,173
Incremental shares from assumed conversion of convertible debentures	18,904	18,904	—
Diluted weighted average shares outstanding	54,001,079	54,076,676	53,901,040

The table includes all stock options and restricted stock that are dilutive to the Company's weighted average common shares outstanding during the period. The calculation of diluted earnings per share excludes stock options or shares of restricted stock that are anti-dilutive to the Company's weighted average common shares outstanding for the years ended December 31, 2016, 2015 and 2014 of approximately 616,000, 568,000 and 585,000, respectively.

During 2016, 2015 and 2014, the Company had convertible notes outstanding that, if converted, could have a potentially dilutive effect on its Common Stock. At issuance, the Company stated its intent to settle any conversion of these notes by paying cash for the principal value and issuing Common Stock for any conversion value in excess of the principal value. As of December 31, 2016, and currently, the Company maintains the intent and ability to settle any conversion as stated. Accordingly, the convertible notes would only have a dilutive effect if the market price per share of Common Stock exceeds the conversion price per share of Common Stock. Therefore, according to ASC Topic 260, Earnings per Share (“ASC 260”), the dilutive effect of the assumed conversion of the debentures was 18,904 shares for the year ended December 31, 2016 and 2015. The assumed conversion of the debentures was anti-dilutive for year ended December 31, 2014. See Note 10, Debt Obligations, for more information about the convertible notes.

Share repurchases

In January 2016, the Company announced that its Board of Directors authorized a stock repurchase program ("2016 Program") allowing the Company to repurchase up to $100 million in value or 5.0 million shares of its common stock through December 10, 2017. For the year end December 31, 2016, the Company repurchased 1.1 million shares at a weighted average purchase price of $65.74 for a total value of $75.6 million under the 2016 Program.

In June 2016, the Board of Directors authorized an additional stock repurchase program ("Repurchase Program") with an effective date of July 28, 2016, allowing Euronet to repurchase up to $125 million in value or 3.0 million shares of its common stock through June 14, 2018. Repurchases under the Repurchase 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. No purchases have been made under this plan.

Preferred Stock

The Company has the authority to issue up to 10 million shares of preferred stock, of which no shares are currently issued or outstanding.

Stockholder Rights Agreement

On March 26, 2013, the Company entered into a Rights Agreement (the "Rights Agreement") with Computershare Trust Company, N.A., as Rights Agent. The Rights Agreement became effective at the close of business on April 3, 2013, immediately following the expiration of the prior rights agreement, and had a three year term, which expired on April 3, 2016.

Accumulated other comprehensive loss

As of December 31, 2016 and 2015, accumulated other comprehensive loss consists entirely of foreign currency translation adjustments. For the years ended December 31, 2016, 2015 and 2014, the Company recorded foreign currency translation losses of $45.2 million, $67.8 million and $87.7 million, respectively. There were no reclassifications of foreign currency translation into the Consolidated Statements of Income for the years ending December 31, 2016 and 2014. During 2015, the Company reclassified $0.8 million of foreign currency translation into the Consolidated Statements of Income.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Acquisitions (Note)

12 Months Ended

Dec. 31, 2016

Acquisitions [Abstract]

Acquisitions

In accordance with ASC 805, the Company allocates the purchase price of its acquisitions to the tangible assets, liabilities and intangible assets acquired based on fair values. Any excess purchase price over those fair values is recorded as goodwill. The fair value assigned to intangible assets acquired is supported by valuations using estimates and assumptions provided by management. For certain large acquisitions, management engages an appraiser to assist in the valuation process.

2016 Acquisitions

YourCash

On October 3, 2016, the Company completed the acquisition of the capital stock of YourCash Europe Limited and its subsidiaries ("YourCash"), a U.K. based ATM operator with approximately 5,000 ATMs across the U.K., Netherlands, Belgium and Ireland. The acquisition provides the Company with additional experience and manpower in key Western European markets and a greater access to retailers in the U.K. and Netherlands.

The purchase price for YourCash was approximately $62.6 million in cash. Approximately $7.2 million of the cash consideration was placed in escrow accounts to satisfy indemnification obligations of the seller, pursuant to the terms of the purchase agreement. In addition, the agreement calls for deferred consideration of $3.2 million payable over three years at a rate of one-third per year to employee shareholders of YourCash who remain employed with us. The deferred consideration is accounted for separately from the acquisition and will be recognized as compensation over the service period.

The purchase price was allocated to the assets acquired and liabilities assumed, including identifiable intangible assets, based on their respective fair values at the date of acquisition. The valuation of the acquired net assets remains preliminary while management completes its valuation, particularly the valuation of acquired intangible assets. The revenue and earnings of YourCash for the year ended December 31, 2016 were not material nor were the historical revenue and earnings of YourCash material for the purpose of presenting pro forma information for the current or prior-year periods.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date.



(in thousands)	As of October 3, 2016
Cash and cash equivalents	$	5,223
Restricted cash	12,351
Other current assets	2,394
Property and equipment	12,514
Intangible assets	24,571
Total assets acquired	57,053

Trade accounts payable	(3,323		)
Short-term borrowings	(12,535		)
Accrued expenses and other current liabilities	(5,077		)
Deferred tax liabilities	(5,462		)
Other long-term liabilities	(475		)
Total liabilities assumed	(26,872		)

Goodwill	32,429

Net assets acquired	$	62,610

The intangible assets of YourCash are being amortized on a straight-line basis, and the estimated fair values consist of the following:



(in thousands)	Fair Value		Estimated Useful Life
Customer relationships	$	23,506	14 - 20 years
Trade names	428		2 years
Non-compete agreements	637		3 years
Total intangible assets	$	24,571

Goodwill of $32.4 million arising from the acquisition was included in the EFT Processing Segment and was attributable to expected growth opportunities in Europe. Goodwill and intangible assets associated with this acquisition are not deductible for tax purposes.

Other

During the fourth quarter of 2016, the Company completed the acquisition of Tuatara Management Limited for an insignificant amount of cash consideration. The acquisition has been accounted for as a business combination in accordance with U.S. GAAP and the results of operations have been included from the date of acquisition in the Money Transfer Segment.

2015 Acquisitions

xe Corporation

On July 2, 2015, the Company completed the acquisition of all of the capital stock of xe Corporation and its subsidiaries ("xe"). xe is a Canadian company which operates the xe.com and x-rates.com websites, providing currency-related data and international payments services. This acquisition provides Euronet an internationally recognized brand and a large Internet presence in which to offer its foreign currency products.

Under the terms of the agreement, the xe sellers received purchase consideration of $79.9 million in cash, including working capital adjustments, and 642,912 shares of Euronet common stock, with a fair value at date of acquisition of $40.1 million. Half of the common stock portion of the purchase consideration was placed in escrow at closing as security for the xe sellers' indemnification and other obligations under the purchase agreement. Any purchase consideration remaining in escrow will be released to the sellers two years following the closing date, net of any pending indemnification or other claims under the purchase agreement.

During the first quarter of 2016, the Company completed its valuation of the acquired assets and liabilities, which included an adjustment to goodwill of $3.9 million.

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date.



(in thousands)	As of July 2, 2015
Cash and cash equivalents	$	1,872
Other current assets	1,294
Intangible assets	19,269
Other long-term assets	341
Deferred tax assets	161
Total assets acquired	22,937

Trade accounts payable	(26		)
Accrued expenses and other current liabilities	(11,824		)
Other long-term liabilities	(571		)
Total liabilities assumed	(12,421		)

Goodwill	109,460

Net assets acquired	$	119,976

The intangible assets of xe are being amortized on a straight-line basis, and the estimated fair values consist of the following:



(in thousands)	Fair Value		Estimated Useful Life
Proprietary software	$	2,051	5 years
Customer relationships	13,765		8 years
Trade names	3,237		20 years
Non-compete agreements	216		3 years
Total intangible assets	$	19,269

The intangible asset amounts are expected to be deductible for income tax purposes, but the goodwill amount is not. Pro-forma results of operations, assuming this acquisition was made at the beginning of the earliest period presented, have not been presented because the effect of this acquisition was not material to the Company's results of operations. The net assets of xe and its results of operations are included in the Money Transfer Segment's results.

IME

On June 17, 2015, the Company completed the acquisition of all of the capital stock of IME (M) Sdn Bhd and certain affiliated companies ("IME"). IME is a leading Malaysian-based money transfer provider and provides the Money Transfer Segment with immediate entry into the Asian and Middle East send markets.

Under the terms of the purchase agreement, the sellers received purchase consideration of $78.9 million in cash, including estimated working capital adjustments, and 49,941 shares of Euronet common stock, with a fair value at date of acquisition of $3.0 million. A portion of the purchase consideration was placed in escrow at closing as security for the sellers' indemnification and other obligations under the purchase agreement. Any purchase consideration remaining in escrow will be released to the sellers at various defined dates over five years following the closing date, net of any pending indemnification or other claims under the purchase agreement.

In the first quarter of 2016, the Company adjusted the purchase price allocation to included a net adjustment to goodwill of $1.3 million, which resulted from a working capital adjustment and the finalization of the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date.

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date.



(in thousands)	As of June 17, 2015
Cash and cash equivalents	$	33,279
Other current assets	21,566
Intangible assets	36,250
Other long-term assets	5,327
Total assets acquired	96,422

Trade accounts payable	(2,766		)
Accrued expenses and other current liabilities	(2,743		)
Settlement obligations and customer deposits	(30,540		)
Deferred tax liabilities	(9,063		)
Other long-term liabilities	(858		)
Total liabilities assumed	(45,970		)

Goodwill	31,443

Net assets acquired	$	81,895

The intangible assets of IME are being amortized on a straight-line basis, and the estimated fair values consist of the following:



(in thousands)	Fair Value		Estimated Useful Life
Customer relationships	$	35,360	8 years
Trade names	450		2 years
Non-compete agreements	440		5 years
Total intangible assets	$	36,250

None of the goodwill or intangible asset amounts are expected to be deductible for income tax purposes. Pro-forma results of operations, assuming this acquisition was made at the beginning of the earliest period presented, have not been presented because the effect of this acquisition was not material to the Company's results of operations. Additionally, the cumulative effect of the IME acquisitions was not material to the Company's results of operations. The net assets of IME and its results of operations are included in the Money Transfer Segment's results.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Debt Obligations (Note)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

DEBT OBLIGATIONS

Debt Obligations

Debt obligations consist of the following as of December 31, 2016 and 2015:



	As of December 31,
(in thousands)	2016			2015
Credit Facility:
Term loan, due 2019	$	60,000		$	67,031
Revolving credit agreements, due 2019	159,963			7,701
	219,963			74,732
Convertible Debt:
1.50% convertible notes, unsecured, due 2044	358,293			347,878

Other obligations	23,892			5,731

Total debt obligations	$	602,148		$	428,341
Unamortized debt issuance costs	(8,324		)	(10,809		)
Carrying value of debt	$	593,824		$	417,532
Short-term debt obligations and current maturities of long-term debt obligations	(32,161		)	(12,060		)
Long-term debt obligations	$	561,663		$	405,472

As of December 31, 2016, aggregate annual maturities of long-term debt are $9.0 million in 2017, $14.2 million in 2018, $197.5 million in 2019, $402.5 million in 2020 and none thereafter. This maturity schedule reflects the term loan and revolving credit facilities maturing in 2019 and the convertible notes maturing in 2020, coinciding with the terms of the initial put option by holders of the notes.

Credit Facility

The Company has a revolving bank credit facility with a syndicate of financial institutions which expires April 9, 2019. The senior secured credit facility (the "Credit Facility") provides an aggregate amount of $675 million, consisting of a $590 million five-year revolving credit facility, a $10 million five-year India revolving credit facility and a $75 million five-year term loan which has been reduced to $60.0 million as of December 31, 2016 through principal amortization payments. The revolving credit facility allows for borrowings in U.S. dollars, euro, British pound sterling, Australian dollars and/or Indian rupees. The revolving credit facility contains a $200 million sublimit for the issuance of letters of credit and a $25 million sublimit for swingline loans.

Fees and interest on borrowings vary based upon the Company's consolidated total leverage ratio (as defined in the amended and restated credit agreement) and will be based, in the case of letter of credit fees, on a margin, and in the case of interest, on a margin over London Inter-Bank Offered Rate (“LIBOR”) or a margin over the base rate, as selected by the Company, with the applicable margin ranging from 1.375% to 2.375% (or 0.375% to 1.375% for base rate loans). The base rate is the highest of (i) the Bank of America prime rate, (ii) the Federal Funds rate plus 0.50% or (iii) the Fixed LIBOR rate plus 1.00%. The term loan is subject to scheduled quarterly amortization payments, as set forth in the amended and restated credit agreement. The maturity date for the Credit Facility is April 9, 2019, at which time the outstanding principal balance and all accrued interest will be due and payable in full. The weighted average interest rates of the Company's borrowings under the term loan and revolving credit facility were 2.1% and 2.4%, respectively, as of December 31, 2016, and 1.8% and 10.1%, respectively as of December 31, 2015. The weighted average interest rate under the revolving credit facility for 2015 was higher than the Term Loan A due to the higher borrowing rate related to the India credit facility.

As of December 31, 2016 and 2015, the Company had stand-by letters of credit/bank guarantees outstanding against the revolving credit facility of $44.9 million and $42.0 million, respectively. Stand-by letters of credit/bank guarantees reduce the Company's borrowing capacity under the revolving credit facility and are generally used to secure trade credit and performance obligations. The Company pays an interest rate for stand-by letters of credit/bank guarantees at a rate that may adjust each quarter based upon the Company's consolidated total leverage ratio. As of December 31, 2016 and 2015, the stand-by letters of credit interest charges was 1.4% per annum.

The amended and restated credit agreement contains customary affirmative and negative covenants, events of default and financial covenants, including: (i) a Consolidated Total Leverage Ratio not to exceed 4.0 to 1.0; and (ii) a Consolidated Fixed Charge Coverage Ratio of not less than 1.5 to 1.0. Subject to meeting certain leverage ratio and liquidity requirements as contained in the amended and restated credit agreement, the Company is permitted to pay dividends, repurchase common stock and repurchase subordinated debt.

The Company and certain subsidiaries have guaranteed the repayment of obligations under the Credit Facility and have granted pledges of the shares of certain subsidiaries along with a security interest in certain other personal property collateral of the Company and certain subsidiaries.

Convertible Debt

On October 30, 2014, the Company completed the sale of $402.5 million of Convertible Senior Notes due 2044 (“Convertible Notes”). The Convertible Notes have an interest rate of 1.5% per annum payable semi-annually in April and October, and are convertible into shares of Euronet Common Stock at a conversion price of approximately $72.18 per share if certain conditions are met (relating to the closing prices of Euronet Common Stock exceeding certain thresholds for specified periods). Holders of the Convertible Notes have the option to require the Company to purchase their notes at par on October 1, 2020, and have additional options to require the Company to purchase their notes at par on October 1, 2024, 2029, 2034, and 2039, or upon a change in control of the Company. In connection with the issuance of the Convertible Notes, the Company recorded $10.7 million in debt issuance costs, which are being amortized through October 1, 2020.

In accordance with ASC 470-20-30-27, proceeds from the issuance of convertible debt is allocated between debt and equity components so that debt is discounted to reflect the Company's nonconvertible debt borrowing rate. ASC 470-20-35-13 requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense. The allocation resulted in an increase to additional paid in capital of $66.1 million.

Contractual interest expense was $6.0 million, $6.0 million and $0.9 million for the years ended December 31, 2016, 2015 and 2014, respectively. Discount accretion was $10.4 million, $9.9 million and $1.6 million for the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016 and 2015, the unamortized discounts were $44.2 million and $54.6 million, respectively. The discount will be amortized through October 1, 2020. The effective interest rate was 4.7% for the years ended December 31, 2016 and 2015.

Other obligations

Certain of the Company's subsidiaries have available lines of credit and overdraft credit facilities that generally provide for short-term borrowings that are used from time to time for working capital purposes. As of December 31, 2016 and 2015, borrowings under these arrangements were $23.9 million and $5.7 million, respectively. As of December 31, 2016, there was $23.3 million due in 2017 under these other obligation arrangements.

Derivative Instruments and Hedging Activities (Note)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedges, Assets [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Derivative Instruments and Hedging Activities

The Company is exposed to foreign currency exchange risk resulting from (i) the collection of funds or the settlement of money transfer transactions in currencies other than the U.S. dollar, (ii) derivative contracts written to its customers in connection with providing cross-currency money transfer services and (iii) certain foreign currency denominated other asset and liability positions. The Company enters into foreign currency derivative contracts, primarily foreign currency forwards and cross-currency swaps, to minimize its exposure related to fluctuations in foreign currency exchange rates. As a matter of Company policy, the derivative instruments used in these activities are economic hedges and are not designated as hedges under ASC 815, primarily due to either the relatively short duration of the contract term or the effects of fluctuations in currency exchange rates are reflected concurrently in earnings for both the derivative instrument and the transaction and have an offsetting effect.

Foreign currency exchange contracts - Ria Operations and Corporate

In the United States, the Company uses short-duration foreign currency forward contracts, generally with maturities up to 14 days, to offset the fluctuation in foreign currency exchange rates on the collection of money transfer funds between initiation of a transaction and its settlement. Due to the short duration of these contracts and the Company’s credit profile, the Company is generally not required to post collateral with respect to these foreign currency forward contracts. Most derivative contracts executed with counterparties in the U.S. are governed by an International Swaps and Derivatives Association agreement that includes standard netting arrangements; therefore, asset and liability positions from forward contracts and all other foreign exchange transactions with the same counterparty are net settled upon maturity. As of December 31, 2016, the Company had foreign currency forward contracts outstanding in the U.S. with a notional value of $165.1 million, primarily in Australian dollars, Canadian dollars, British pounds, euros and Mexican pesos.

In addition, the Company uses forward contracts, typically with maturities from a few days to less than one year, to offset

foreign exchange rate fluctuations on certain short-term borrowings that are payable in currencies other than the U.S dollar. As of December 31, 2016, the Company had foreign currency forward contracts outstanding with a notional value of $106.5 million, primarily in British pounds, euros and Polish zloty.

Foreign currency exchange contracts - HiFX Operations

HiFX writes derivative instruments, primarily foreign currency forward contracts and cross-currency swaps, mostly with counterparties comprised of individuals and small-to-medium size businesses and derives a currency margin from this activity as part of its operations. HiFX aggregates its foreign currency exposures arising from customer contracts and hedges the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties. Foreign exchange revenues from HiFX's total portfolio of positions were $66.0 million, $62.8 million and $37.3 million for the years ended December 31, 2016, 2015 and 2014, respectively. All of the derivative contracts used in the Company' s HiFX operations are economic hedges and are not designated as hedges under ASC 815. The duration of these derivative contracts is generally less than one year.

The fair value of HiFX's total portfolio of positions can change significantly from period to period based on, among other factors, market movements and changes in customer contract positions. HiFX manages counterparty credit risk (the risk that counterparties will default and not make payments according to the terms of the agreements) on an individual counterparty basis. It mitigates this risk by entering into contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties. HiFX does not expect any significant losses from counterparty defaults.

The aggregate equivalent U.S. dollar notional amounts of foreign currency derivative customer contracts held by the Company in its HiFX operations as of December 31, 2016 was approximately $1.3 billion. The significant majority of customer contracts are written in major currencies such as the euro, U.S. dollar, British pound, Australian dollar and New Zealand dollar.

Balance Sheet Presentation

The following table summarizes the fair value of the derivative instruments as recorded in the Consolidated Balance Sheets as of the dates below:



	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
(in thousands)	Balance Sheet Location	December 31, 2016		December 31, 2015		Balance Sheet Location	December 31, 2016			December 31, 2015
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	Other current assets	$	75,307	$	37,034	Other current liabilities	$	(63,772	)	$	(25,891	)

The following tables summarize the gross and net fair value of derivative assets and liabilities as of December 31, 2016 and 2015 (in thousands):

Offsetting of Derivative Assets



							Gross Amounts Not Offset in the Consolidated Balance Sheet
As of December 31, 2016	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet		Financial Instruments			Cash Collateral Received			Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	75,307	$	—	$	75,307	$	(49,752	)	$	(7,562	)	$	17,993

As of December 31, 2015
Derivatives subject to a master netting arrangement or similar agreement	$	37,034	$	—	$	37,034	$	(19,786	)	$	(6,415	)	$	10,833

Offsetting of Derivative Liabilities



									Gross Amounts Not Offset in the Consolidated Balance Sheet
As of December 31, 2016	Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet			Financial Instruments		Cash Collateral Paid		Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	(63,772	)	$	—	$	(63,772	)	$	49,752	$	1,106	$	(12,914	)

As of December 31, 2015
Derivatives subject to a master netting arrangement or similar agreement	$	(25,891	)	$	—	$	(25,891	)	$	19,786	$	1,741	$	(4,364	)

Income Statement Presentation

The following tables summarize the location and amount of gains on derivatives in the Consolidated Statements of Income for the years ended December 31, 2016, 2015 and 2014:



		Amount of Gain Recognized in Income on Derivative Contracts (a)
	Location of Gain (Loss) Recognized in Income on Derivative Contracts	Year Ended December 31,
(in thousands)		2016		2015		2014
Foreign currency exchange contracts - Ria Operations	Foreign currency exchange gain, net	$	143	$	1,026	$	2,300

(a) The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its HiFX operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

See Note 17, Financial Instruments and Fair Value Measurements, for the determination of the fair values of derivatives.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Organzation (Note)	12 Months Ended
Organzation (Note)	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization Disclosure [Text Block]	Organization Euronet Worldwide, Inc. (the “Company” or “Euronet”) was established as a Delaware corporation on December 13, 1997 and succeeded Euronet Holding N.V. as the group holding company, which was founded and established in 1994. Euronet is a leading electronic payments provider. Euronet offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Euronet's primary product offerings include comprehensive automated teller machine (“ATM”), point-of-sale (“POS”), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products, and global money transfer services.

Basis of Preparation (Note)	12 Months Ended
Basis of Preparation (Note)	Dec. 31, 2016
BASIS OF PREPARATION [Abstract]
Basis of Preparation and Seasonality [Text Block]	Basis of Preparation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of Euronet and its wholly owned and majority owned subsidiaries and all significant intercompany balances and transactions have been eliminated. Euronet's investments in companies that it does not control, but has the ability to significantly influence, are accounted for under the equity method. Euronet is not involved with any variable interest entities. Results from operations related to entities acquired during the periods covered by the consolidated financial statements are reflected from the effective date of acquisition. Certain amounts in prior years have been reclassified to conform to the current year's presentation. The preparation of the consolidated financial statements in conformity with U.S. GAAP requires that management make a number of estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant items subject to such estimates and assumptions include computing income taxes, contingent purchase price consideration, estimating the useful lives and potential impairment of long-lived assets and goodwill, as well as allocating the purchase price to assets acquired and liabilities assumed in acquisitions and revenue recognition. Actual results could differ from those estimates. Seasonality Euronet’s EFT Processing Segment experiences its heaviest demand for dynamic currency conversion services during the third quarter of the fiscal year, coinciding with the tourism season. Additionally, the EFT Processing and epay Segments are impacted by seasonality during the fourth quarter and first quarter of each year due to higher transaction levels during the holiday season and lower levels following the holiday season. Seasonality in the money transfer segment varies by region of the world. In most markets, Euronet usually experiences increased demand for money transfer services from the month of May through the fourth quarter of each year, coinciding with the increase in worker migration patterns and various holidays, and its lowest transaction levels during the first quarter of the year.