CORPAY, INC. (CPAY) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that CORPAY, INC. surfaced in its latest filing.

• Revenues for late fees and finance charges represented approximately 3% of consolidated revenue for the year ended December 31, 2025.December 31, 2025
• Approximately 51% of 2025 revenue was denominated in non-U.S. dollar currencies, primarily Brazilian real, British pound, euro, Canadian dollar, Australian dollar, Mexican peso, Czech koruna, and New Zealand dollar.2025
• Approximately 8% of consolidated 2025 revenue was directly influenced by absolute fuel prices.2025
• Approximately 4% of consolidated 2025 revenue was derived from transactions tied to fuel price spreads.2025
• Subject to the FTC Order issued by the U.S. District Court for the Northern District of Georgia on June 8, 2023, requiring compliance with certain advertising, contracting, record maintenance and reporting requirements for the U.S. fuel card business.June 8, 2023
• Approximately $10.0 billion of debt outstanding under the Credit Facility and Securitization Facility as of December 31, 2025.December 31, 2025
• Goodwill and intangible assets represented approximately 41% of total assets at December 31, 2025.December 31, 2025
• The limited partnership agreement with TPG requires minimum return payments to third-party investors up to 1.6 times invested capital upon a subsequent sale or exit event.
• Mastercard has a limited right to sell its interest back to the Company for six months, followed by a limited six-month reciprocal right for the Company to repurchase Mastercard's interest.
• One of our subsidiaries is registered as a member service provider with Mastercard through sponsorship by Mastercard member banks in both the U.S. and Canada.