Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 2,408,097	$ 1,553,642
Restricted cash	6,583,843	2,902,703
Accounts and other receivables (less allowance for credit losses of $170,957 at December 31, 2025 and $133,757 at December 31, 2024)	2,145,679	2,090,500
Securitized accounts receivable—restricted for securitization investors	1,823,000	1,323,000
Prepaid expenses and other current assets	1,002,621	806,024
Total current assets	13,963,240	8,675,869
Property and equipment, net	472,310	377,705
Goodwill	7,564,822	5,984,667
Other intangibles, net	3,237,729	2,410,442
Investments	601,942	60,088
Other assets	568,092	448,260
Total assets	26,408,135	17,957,031
Current liabilities:
Accounts payable	1,564,548	1,570,426
Accrued expenses	606,600	444,938
Customer deposits	8,118,566	3,266,126
Securitization facility	1,823,000	1,323,000
Current portion of notes payable and lines of credit	1,522,530	1,446,974
Other current liabilities	661,433	656,417
Total current liabilities	14,296,677	8,707,881
Notes payable and other obligations, less current portion	6,656,157	5,226,106
Deferred income taxes	614,345	439,176
Other noncurrent liabilities	612,279	437,879
Total noncurrent liabilities	7,882,781	6,103,161
Commitments and contingencies (Note 15)
Redeemable noncontrolling interest (Note 2)	302,000	0
Stockholders’ equity:
Common stock, $0.001 par value; $475,000,000 shares authorized; 132,186,610 shares issued and 68,362,289 shares outstanding at December 31, 2025; and 131,425,669 shares issued and 70,170,016 shares outstanding at December 31, 2024	132	131
Additional paid-in capital	3,970,077	3,811,131
Retained earnings	10,264,751	9,196,405
Accumulated other comprehensive loss	(1,392,154)	(1,713,996)
Less treasury stock (63,824,321 shares and 61,255,653 shares at December 31, 2025 and 2024, respectively)	(8,958,942)	(8,171,329)
Total Corpay stockholders’ equity	3,883,864	3,122,342
Noncontrolling interest	42,813	23,647
Total equity	3,926,677	3,145,989
Total liabilities, redeemable noncontrolling interest and equity	$ 26,408,135	$ 17,957,031

CORPAY, INC. 10-K